Clearwater International was transaction adviser to Novenco Fire Fighting (NFF), developer of water mist systems for firefighting, in the sale to Wilhelmsen Technical Solutions (WTS).
It is the Danish private equity fund, Dania Capital, which has now sold the company to the Norwegian based shipping group. With the acquisition of NFF, WTS will be strengthened with technical knowhow as well as development expertise within low pressure water mist technology, and they will gain a certified product portfolio with the well-known XFLOW brand.
NFF exports over 90% of its products to more than 26 countries worldwide. The main markets are Asia, Europe and the US, where NFF has an extensive distribution network via local sales agents. The customer segments, among others, include cargo, ferries, cruises and yachts.
Especially in the latter two mentioned segments WTS will be particularly strengthened. The acquiring company, Wilhelmsen Technical Solutions, is part of the Wilhelmsen group of companies. WTS provides solutions and services within the marine and offshore segments, including fire suppression and prevention, HVAC-R, power optimization and control systems. Together, WTS and NFF expect to generate significant sales synergies on the international market.