Langley Holdings has completed the acquisition of the Norwegian Bergen Engines group from Rolls-Royce for a consideration of €91 million. €16 million of cash held within Bergen Engines AS has been retained by Rolls-Royce.
Completion of the transaction, which was announced in August, follows the conclusion of the work needed to separate the business from the Rolls-Royce group.
As of 31 December 2021, Langley formally acquired Bergen Engines AS as a stand-alone group including its engine factory, service workshop and foundry in Norway, its engine and power plant design capability, and its global service network and subsidiaries in nine countries.
In 2021, Bergen Engines generated revenues of approximately €250 million.
The group employs almost 950 people worldwide, of which more than 600 are based at its headquarters and production facilities near Bergen, in Norway.
Going forward, Bergen will be operated as a stand-alone business unit focused - in addition to its traditional markets - on the rapidly developing microgrid power generation sector, an area central to Langley’s net zero strategy, and is to become the core of a newly formed Power Solutions Division, working closely with the group’s Italian Marelli Motori and German Piller Power Systems subsidiaries.
Chairman & CEO, Mr Tony Langley commented: “The acquisition of Bergen Engines is a major step towards our net zero objectives. The company has a superb reputation and is proving to be highly innovative in adapting its engines to low-carbon and non-fossil fuels. Coupled with that, the emerging microgrid sector fits perfectly to our long-term sustainability goals.”
In October, Langley gave the go-ahead to a €4 million research project to be funded jointly with the Norwegian government. The AMAZE (Ammonia Zero Emissions) project is developing the use of ammonia as an alternative fuel for marine engines.