Damen Shipyards acquires majority stake in Folla Maritime Service.
Dutch shipbuilding group Damen Shipyards has acquired 55 percent of the shares in Norwegian vessel supplier Folla Maritime Service, becoming the company’s new majority owner, according to a statement from Folla Maritime.
With the transaction, Folla Maritime aims to position itself as a full-service provider of vessels to the aquaculture sector in both domestic and international markets. Managing director Otto Sjølien said the partnership with Damen would enable the company to expand its product range, increase capacity, and access new expertise and resources.
Folla Maritime, based in Flatanger, Norway, has delivered vessels and services to the aquaculture industry for over 30 years. The company had revenues of NOK 121 million ($11.37 million/€10.04 million) in 2024 and employs approximately 40 people.
Existing majority shareholders will remain active in the company, and the current management team and key personnel will continue in their roles. Sjølien described the acquisition as the outcome of a long-term process and said it would strengthen the company’s market position and customer offering.
Damen Shipyards Group operates 35 shipyards in more than 20 countries and employs around 12,000 people worldwide. The group reported annual revenues of over €3 billion.
Chairman Thomas Gerving, who will remain in his position, said the transaction validated the long-standing efforts of the Folla Maritime team and would support continued development of the business in Flatanger.