John Crane-Lips, a supplier of marine propulsion systems, will become part of Wärtsilä following the signing of the sale and purchase agreement between Wärtsilä and John Crane-Lips´ UK-based parent
Smiths Group. The transaction enhances Wärtsilä’s position as the global ship power supplier and provider of integrated propulsion systems. The acquisition price is GBP 215 million (approx. EUR 350 million).
The acquisition of John Crane-Lips, which will operate under the name Wärtsilä Propulsion, marks an important step towards Wärtsilä strategic goal to lead the ship power market. Wärtsilä and John Crane-Lips have significant complementary strengths: Wärtsilä has a comprehensive portfolio of marine engines whilst John Crane-Lips has a complete range of marine propulsion products. John Crane-Lips is a supplier of propulsors, marine seals, bearings and integrated propulsion systems.