Wilhelmsen acquires rope specialist

01 Oct 2015
Bjørge Grimholt, president:

Bjørge Grimholt, president: "The Timm acquisition reinforces our position as a global player within marine products"

Wilhelmsen Ships Service (WSS) is expanding its business with the acquisition of high performance ropes provider, Timm AS.

The rope provider, which has been in business for more than 240 years, operates worldwide with five distribution hubs, with its main customer base in the European market.

“The Timm acquisition reinforces our position as a global player within marine products,” said Bjørge Grimholt, president, WSS. “Timm will contribute with some US$16m to our revenue with immediate effect. This is a renowned brand with high quality products, which is a good fit with our global supply and service network. We have significant synergy potential going forward. Together, we will develop this business significantly and in line with our ambitious growth targets.”

Owners of Timm, Christian Krefting of Krefting AS, Jacob Stolt-Nielsen of BSN AS and Tore Strand of Skarbu AS, added: “Since 2009, we have focussed on innovation and industrialisation; we have turned around the business and prepared Timm for further expansion.”

“We are very pleased that an international and industrial company like WSS will carry on our tradition since 1772 to deliver great ropes worldwide and grow the business further,” they concluded.

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