Norvestor to acquire Maritime’s steering gear and rudder business form Kongsberg.

Norvestor, a private equity firm, agreed to acquire Maritime’s steering gear and rudder business form Kongsberg, a provider of high-technology systems. Financial terms were not disclosed. “We are very pleased to have reached an agreement with Norvestor, divesting our steering gear and rudder business. This is a solid business with a long heritage, high-quality products, and established market positions which we believe will continue to develop well under new ownership, and we look forward to a fruitful cooperation in the future,” Per Håvard Siljan Hjukse, Kongsberg EVP Propulsion and Handling.