Kongsberg Maritime to Acquire Berg Propulsion
Norwegian maritime technology company Kongsberg Maritime has agreed to acquire Swedish propulsion specialist Berg Propulsion in a move aimed at expanding its marine propulsion portfolio and strengthening its position across a wider range of vessel segments.
Financial terms of the transaction were not disclosed, although Kongsberg Maritime said the acquisition was priced at approximately the same enterprise value-to-EBITDA multiple as its own current market valuation.
The transaction remains subject to customary regulatory approvals and other closing conditions.
Headquartered in Gothenburg, Sweden, Berg Propulsion designs and manufactures integrated propulsion and electrical systems for the maritime industry. The company employs approximately 400 people, has an installed base of around 4,000 vessels worldwide and generated revenues of approximately $183 million (€160 million) in 2025 following strong growth over the past five years.
Kongsberg Maritime said the acquisition will broaden its propulsion offering by combining its strong position in high-value, performance-driven vessel segments with Berg Propulsion's presence in volume markets such as general cargo ships and product tankers.
Following completion, Berg Propulsion will continue to operate as a separate brand and standalone business unit within Kongsberg Maritime's Propulsion & Handling division, preserving its existing organization, customer focus and entrepreneurial culture.
The combined propulsion portfolio will include controllable pitch propellers, thrusters, hybrid and electric propulsion systems, and integrated vessel control solutions. Kongsberg Maritime also expects to expand its global aftermarket offering by supporting Berg Propulsion's installed fleet through its worldwide service network while pursuing cross-selling opportunities across both companies' product portfolios.
Kongsberg Maritime generated revenues of $2.8 billion (NOK 27.1 billion) in 2025, representing 10% growth compared with the previous year.
"This acquisition is central in our growth plan and strengthens our ability to serve a broader range of customers and vessel segments. Berg Propulsion complements our portfolio in a highly attractive way, and together we will deliver greater value through a wider offering, stronger lifecycle support, and shared expertise,” said Lisa Edvardsen Haugan, CEO of Kongsberg Maritime.
"Joining forces with Kongsberg Maritime is an exciting opportunity for Berg Propulsion. Our businesses complement each other well, and together we can create new opportunities for our customers and employees. We look forward to contributing our strengths while also benefiting from Kongsberg Maritime’s global scale and aftermarket capabilities," added Philip Chaabane, CEO of Berg Propulsion.
