Announced
Completed
Financials
Tags
Defense
Friendly
Acquisition
marine engineering
Single Bidder
Germany
submarine sonar systems
Majority
Private
Cross Border
Completed
Synopsis
Cohort, the independent technology group, completed the acquisition of Wartsila ELAC Nautik, a Germany-based market leader in naval surface ship and submarine sonar systems, for €11m. "The acquisition of ELAC is a significant step for Cohort, adding a sixth standalone business to our growing and profitable portfolio. It is highly complementary to our core capabilities in defence and security, with a leading position in the attractive and growing submarine and surface sonar markets, strengthening and broadening the Group's existing capabilities in maritime systems," Andrew Thomis, Cohort Chief Executive Officer.
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