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Saab selling maritime traffic management business

Photo: Scott Graham - Unsplash Scott Graham - Unsplash.jpg
Saab is selling its Maritime Traffic Management (MTM) business for €40m to a private equity firm as it looks to focus on its core businesses.

MTM is being sold to Agilitas Private Equity in a deal that is expected to close by end March 2023.

Saab said the divestment was in line with a strategy of increased focus on its core areas of aeronautics, sensors, command & control, advanced weapon systems and

underwater systems. Saab will maintain a 21 – 28% share of MTM’s preference shares, the final amount to be determined on closing.

“MTM is a stable and resilient business, however no longer part of Saab’s core. As we continue to focus our growth within our core areas, we believe the MTM operations will benefit from being part of a new ownership for continued growth with Agilitas,” said Micael Johansson, Saab President and CEO.

Kevin Lermiin, partner at Agilitas, commented`: “We look forward to partnering with the management team in bringing the business to the next level by developing the service offering and expanding the customer base.”

TAGS: Europe