Wartsila to Acquire Puregas Solutions for up to USD42.9 Million

Published: Oct 04 2017
Deal Summary

Wartsila Corporation, a provider of technology and lifecycle solutions for the marine and energy markets, has agreed to acquire Puregas Solutions AB, a provider of biogas upgrading solutions, for a purchase consideration of SEK280 million (USD34.3 million), with an additional maximum sum of SEK70 million (USD8.58 million) to be paid based on the performance of the business in the coming year.

Puregas Solutions operates with subsidiary companies in Germany, Denmark, the UK, and the US. It utilizes a unique CApure process to convert raw biogas to biomethane and renewable natural gas. In 2016, the company’s turnover was SEK200 million (USD21.9 million) and currently has about 40 employees.

The acquisition will provide Wartsila with added equipment and expertise in biogas upgrading, and will complement its existing position in the biogas liquefaction market.

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