GTT Propels Forward with Acquisition of Danelec

GTT, a leader in technology and engineering for cryogenic containment systems, announced its strategic acquisition of Danelec for 194 million euros, from investment fund Verdane. This acquisition positions GTT as a global leader in maritime performance management, thanks to Danelec's advanced solutions in data collection and analysis, enhancing performance, safety, and decarbonization of maritime operations. The deal is set to be accretive from the first year, with a purchase price reflecting approximately 15 times the projected 2024/2025 EBITDA, prior to synergy realization. Based in Farum, Denmark, and specializing in critical maritime equipment like Voyage Data Recorders, Danelec's offerings are installed on over 15,500 vessels worldwide. The acquisition aligns with GTT's digital growth strategy, expanding its reach in maritime digital solutions. Financial discussions and insights into the acquisition's implications will be shared in an investor call on May 5, 2025.