Svanehøj Acquires Complete Cryogenic Services to Tap into Growing LNG Tanker Services Market

Denmark-based marine pump specialist Svanehøj has taken over California-based Complete Cryogenic Services, a specialist in service and overhaul of submerged pumps on LNG tankers.

"The number of LNG tankers globally has grown by around 40% in the last five years, and 2022 was a record year with more than 200 new contracts signed. With this, an attractive service and aftersales market emerges, in which Svanehøj is determined to gain market share," the company said,

Therefore, Svanehøj decided to acquire Complete Cryogenic Services (CCS) in Tustin, California, with more than 30 years of experience in the service and overhaul of submerged cargo, spray, and high-pressure pumps for cargo containment systems on LNG tankers.

"[Complete Cryogenic Services] is a well-known and recognized company that will strengthen our efforts to become the leading service provider of inspections, service, and calibration of cargo equipment in the LNG segment. At the same time, the acquisition is an investment in knowledge and know-how that will help us develop new products and services for the energy transition of shipping," says Søren Kringelholt Nielsen, CEO of Svanehøj.

"With the acquisition of CCS, Svanehøj Service Solutions is now located on three continents with just under 100 employees, almost a tenfold increase in four years," Svanehøj said. 

Following the acquisition of CCS, Svanehøj employs 320 people and has activities in Denmark, the UK, France, Singapore, China, Japan, and the USA.

Svanehøj has in recent years expanded its service solution business through acquisitions of FORCE Technology Marine Equipment Service in 2020 and Wärtsilä Tank Control Systems in 2022. In 2021 it established a 1,600 sqm service and repair shop in Singapore (2021).

"We have invested significantly in our service business to be close to customers with local service engineers worldwide. Today, Svanehøj can offer integrated solutions with service on safety valves, gauging and instrumentation systems, and submersible cargo, spray, and high-pressure pumps – all carried out by one service provider to make the entire service scope easier and more financially viable," says director of service and aftersales at Svanehøj, Morten Christian Larsen.

With the acquisition of Complete Cryogenic Services, Svanehøj said it would also be able to re-engineer critical spare parts for all pump types.