Reiten & Co has agreed to purchase 31.5 million shares in Scanship Holding AS from Teco Group AS, and will thus become the company’s largest shareholder with an ownership interest of 32.98 %.
“We are now looking forward to developing the company in close co-operation with its board of directors and management. We believe in value creation through active participation, development of growth areas that the company has already outlined and through structured strategy discussions,” says Bård Brath Ingerø, managing partner in Reiten & Co.
Digitalization and environmental technology represent exciting opportunities for value creation going forward, and Reiten & Co has highlightes these as focus areas in its investment strategy.
“With Scanship’s advanced technologies for processing waste and purifying water, the company is well positioned to add significant value in the years to come,” says Mr. Ingerø.
Scanship is a maritime industry leader within advanced waste and wastewater solutions for the cruise industry. With their technology, vessel owners have the solution to convert all waste and wastewater to inert materials, recyclables, clean flue gas and effluent, which meets the highest international discharge standards.
The company’s technology can also be used in a number of exciting growth areas on-shore and for land-based industries. One example is their latest delivery of a complete bio-sludge treatment system for a smolt facility (Aquaculture). Another innovation is their new technology for recovering energy and water in waste and wastewater processes, using Microwave Assisted Pyrolysis or MAP. This provides tangible payback from operations.
Scanship’s overall vision is to provide the highest quality, the best innovations and sustainable solutions.
“Our ambition is to contribute to value creation for all stakeholders through our active participation. We have good experience with such work, for instance in Data Respons (DAT.NO) where we own 33 % of the shares,” says Narve Reiten, Founding Partner in Reiten & Co.
“We have followed Scanship and the industry with great interest for quite some time. When the company announced that the granted period for exclusive negotiations about a possible transaction had lapsed, we were able to close an agreement to acquire a substantial number of shares from the company’s leading investor Teco. We are pleased that Teco will remain a shareholder in the company, and that Tore Enger is willing to continue to serve on its board of directors,” says Reiten.
About Reiten & Co
Reiten & Co is one of Norway’s most experienced investment companies and invests in medium-sized Nordic companies with an international potential. Reiten & Co was established in 1992 and has approx. NOK 3.5 billion under management. Reiten & Co takes on an active ownership role in their portfolio companies through providing financial and strategic expertise, operational improvements and growth strategies. Reiten & Co has invested in 25 companies, amongst the industries IT / digitization, oil / offshore, industrials, and various service and consumer goods industries. The portfolio currently consists of 10 companies with a LTM turnover of approx. NOK 7.5 billion.
About Scanship Holding:
Scanship Holding is a maritime industry leader in advanced technologies for processing waste and purifying water. Owners operating their systems have the solution to convert all waste and wastewater to inert materials, recyclables, clean flue gas and effluent, which meets the highest international discharge standards.
Norwegian Cruise Line, Royal Caribbean International, TUI, Carnival Cruise Line, Costa Asia, P&O Australia, MSC, Viking Ocean Cruises, Hurtigruten and Silversea are all being delivered with Scanship technology for environmental compliance.
Scanship’s new technologies will recover energy and water, providing tangible payback from the operations. The company strives for the highest quality, best innovations and sustainable solutions.