The private equity fund Polaris’ portfolio company G&O Maritime Group acquires Danish fuel-system specialist and technology group Eltronic FuelTech.
G&O Maritime Group was acquired by Polaris in 2021, bringing together a number of niche sub-suppliers to the global maritime industry. With the acquisition of Eltronic FuelTech, the group strengthens its position within fuel supply systems for alternative, greener fuels such as methanol and ammonia. Together, the parties are expected to generate a total revenue of more than DKK 1.1 billion and employ around 700 people, the majority of whom will be based in Denmark.
Eltronic FuelTech is headquartered in Hedensted, Denmark, with presence in South Korea and China, while G&O Maritime Group has a global presence with own offices and production, including in Denmark and Asia.
Accura advised Polaris in connection with the current transaction and the acquisition of G&O Maritime Group in 2021.