AAGE HEMPEL GROUP enters into an agreement to acquire 70% of MARVEL.
Aage Hempel Group, one of the largest marine electronic group in Europe, and member of grupoarbulu, has entered into an agreement to acquire 70% of the Greek company Marvel, a well-established company in the Greek market for technical solutions and support within the Maritime sector, in Greece.
It is foreseen that the closing of the transaction will be completed before the end of the first quarter of 2021.
Antonis Vatikiotis, Managing Director & owner of Marvel declares: “Marvel’s joint venture with Aage Hempel Group is the boost we need, having a trusted partner sharing all tools and knowledge enabling us to grow, and to support our Greek customers with comprehensive and unique services. Our vision remains the same, providing the highest level of support to our customers through the dedicated team of our employees as they are our “main engine”. We are excited to be a member of grupoarbulu family, we believe that together, in a short period of time, we will become a reference service company, one of the biggest Greek marine electronics organization”.
Iñaki Arbulu, CEO of grupoarbulu says: “Marvel is a young and very dynamic company in Greece which will contribute very positively to Aage Hempel Group’s growth and for expansion in the global merchant marine market; and additionally, to the other specialized companies within grupoarbulu in merchant, fishing, and mega yacht niches, providing the highest standards of technological solutions onboard, and attending the strong demand of technical service and digitalization. We are really excited to have entered into this agreement, with a new member to the group onboard in Greece. Greece being one of the most relevant markets in the Maritime industry globally, and the great plan for expansion and future together”.
Ioannis Papaefthymiou, MD of Aage Hempel Group says: “Our vision & mission is to be next to our customers wherever they are in the world. Our extensive competence across different tecanyhnologies and manufacturers, ensures our customers can focus on running their ships, relying on us with peace of mind. Our growth over the past couple of years starting with Cyprus, Singapore, the United Kingdom, and now with this agreement in Greece, as new countries where Aage Hempel Group operates, is fueled by the increasing trust coming from our customers, based on the solid foundations we enjoy being members of grupoarbulu. We are well-equipped to face the challenges of today, and even better positioned to embrace the opportunities of tomorrow”.
grupoarbulu is comprised of a group of companies that each specialize in their respective fields of marine electronics, satellite communications and IT solutions onboard vessels. Members today: NAUTICAL, AAGE HEMPEL GROUP including CHARITY & TAYLOR LTD, MARINE INSTRUMENTS, e3 SYSTEMS, SMD, NAVTEAM, HOLSAT GROUP, SILECMAR, and RADIO ELECTRONIC.