Norwegian investment company SMV Invest AS has entered into an agreement to acquire 100 percent of the shares in Norway-based welding specialist Weldteam. The plan is to merge Weldteam with offshore and marine technology supplier Hydroniq Coolers.
“Weldteam is one of Hydroniq Coolers’ most important suppliers. We therefore see great opportunities for an even closer collaboration between the two companies. The objective is to deliver an even more integrated, seamless, and competitive offering to both existing and potential customers,” says Erik Langseth, chairman in Hydroniq Coolers and managing director of SMV Invest AS.
Sperre spin-offs
Alesund-based Hydroniq Coolers was previously named Sperre Coolers, which rebranded to Hydroniq Coolers when SMV Invest in 2018 divested Sperre Industri and the Sperre brand name. The name “Hydroniq” refers to regulation of temperature through utilization of liquids.
Weldteam AS was originally founded as Søvik Mekaniske Verksted AS in 1967. In 1986, Sperre Mek. Verksted acquired the company and subsequently rebranded it to Sperre Sveis AS in 1991. Sperre Sveis AS was owned by Sperre Industri until the former’s employees acquired the business and rebranded to Weldteam in 2021.
“Both Hydroniq Coolers and Weldteam are well-renowned, reliable supplier companies located in the maritime cluster at Sunnmore, Norway. We look forward to joining forces and working even more closely together,” says Inge Bøen, managing director of Hydroniq Coolers.
Coolers and compressors
Hydroniq Coolers is a supplier of cooling solutions and heat exchangers to the shipbuilding market and selected land-based applications. In the shipbuilding market, Hydroniq Coolers supplies marine cooling systems that use seawater to reduce temperatures in the ship’s engines and other auxiliary systems in order to avoid overheating the engine and other critical systems.
Weldteam primarily manufactures pressure-rated equipment and steel structures at the company’s production facility outside Alesund, Norway. With specialized expertise in welding, machining, and surface treatment, the company delivers, among other things, pressure tanks for air compressors and tube chambers for Hydroniq Coolers’ tube coolers. Hydroniq Coolers is one of the company’s largest customers.
”We have an experienced team consisting of machine operators, certified welders, and approved welding technicians who are qualified to meet the requirements set by classification societies and certification bodies. We have grown in recent years, among others together with Hydroniq Coolers. We believe that an even closer collaboration will be beneficial for both our customers and ourselves,” says Brynje Vethe, chairman of Weldteam.
SMV Invest AS acquires Weldteam from the company’s employees. The parties have agreed to not disclose the financial details of the transaction.
Strengthening the organization
Following completion of the transaction, SMV Invest will initiate a process to merge Weldteam and Hydroniq Coolers. The target is to complete the merger process by the end of 2025. Both companies will operate under the Hydroniq Coolers brand from 1 January 2026 onwards.
Hydroniq Coolers is planning to recruit new employees in order to support the growth ambitions of the merged company.
“We have already published an available position as sales manager. We will advertise two additional roles later this autumn. Hopefully these will be the first of many new hires in the coming years,” adds Inge Boen.
Source: Hydroniq Coolers AS
