Wärtsilä to Divest Euroatlas Business to Mimir

The technology group Wärtsilä announces the divestment of 100% of the shares in Wärtsilä Euroatlas GmbH, to Mimir, a global investment firm based in Sweden. Wärtsilä Euroatlas is providing its global customer base tailormade solutions for high performance power conversion in naval, aviation and mobile land-based applications requiring highest reliability and power density and leading-edge energy efficiency under harsh environmental conditions. Products and services include original design, retrofits, upgrades, maintenance, spare parts and education.

The company became part of Wärtsilä as a result of the acquisition of L-3 Communications MSI in 2015 and has 79 employees, based in Bremen, Germany.

Subject to approvals, closing of the transaction is expected in the third quarter of 2021.