Acquisitions23 Jun 2025, 06:12 pm
Garware Technical Fibres to Acquire Leading Norwegian Cordage Company Offshore & Trawl Supply
AI Summary
Garware Technical Fibres Limited (GTFL) announced that its UK-based subsidiary has entered into a definitive Share Purchase Agreement (SPA) to acquire Offshore & Trawl Supply AS (OTS), a Norway-based provider of advanced synthetic cordage solutions. The acquisition is part of GTFL’s global expansion strategy, aiming to enhance its offshore and aquaculture offerings, expand its European footprint, and drive capital-efficient, innovation-led growth. The acquisition is expected to be funded through internal accruals of GTFL, and it is EPS accretive as well as positive for ROCE.
Key Highlights
- The acquisition marks a key milestone in GTFL’s global growth journey and reinforces its commitment to delivering innovation-led, high-performance solutions to customers worldwide.
- OTS is a well-regarded European player known for its premium, value-added synthetic cordage offerings, and its product portfolio complements GTFL’s existing capabilities.
- The acquisition brings in a team of highly skilled Norwegian engineers and domain experts known for their technical depth, customer-centricity, and innovative mindset.
- The acquisition is proposed to be funded through internal accruals of GTFL, and it is EPS accretive as well as positive for ROCE.
- OTS is a leading manufacturer of advanced synthetic cordage solutions for challenging applications in the offshore oil and gas, offshore wind, fisheries, aquaculture, lifting and towing industries.