Turbocharging company Accelleron has announced its plans to acquire marine fuel injection system manufacturer Officine Meccaniche Torino (OMT).
Founded in 1930 and based in Turin, Italy, OMT serves engine builders with high precision fuel injection equipment with a focus on marine propulsion. It has about 250 employees, mainly based at its Italian headquarters. It achieved revenues of about €52m in 2022, of which the majority was generated through service-related demand and has a margin profile of above 20% EBIT.
According to Accelleron, the acquisition in the high double-digit million euro range is an important milestone, marking a positive step in its growth strategy as an independent, listed company. Acquiring what is considered a market leader in the two-stroke engine sector reinforces Accelleron’s position as a partner of choice and leading innovator in the development of alternative fuel technologies, such as hydrogen, methanol, and ammonia, for large marine engines and other heavy-duty applications. Moreover, fuel injection is, like the turbocharger, a mission critical and engine performance defining component with intensive service needs.
Benefitting from complementary R&D competencies, an enhanced technology ecosystem as well as new fuel development initiatives, Accelleron will be able to better support clients to achieve their sustainability goals and decarbonise the shipping industry. The acquisition will further enrich Accelleron’s portfolio to better support customers with digital solutions.
Daniel Bischofberger, CEO Accelleron said: “Decarbonisation is the key market driver of our industry. As a leader in technology and commercial prototype projects with alternative fuels, this move to add fuel injection systems to our already comprehensive turbocharger portfolio is of strategic importance to Accelleron. It is designed to support our OEM customers to develop more fuel-efficient propulsion solutions and the operators to reduce their life cycle costs and carbon footprint. In addition, this acquisition strengthens Accelleron’s core business as well as its attractive financial profile with sustainable revenue growth, resilient margins, and strong cash flow.”
Giovanni Musso, CEO OMT, added: “We are delighted to be part of Accelleron’s new independent growth story, and the transaction gives our technology and dedicated workforce a global platform to further expand.”
Together, Accelleron and OMT hope to advance the energy transition in shipping. Accelleron will take over OMT in its entirety, retaining all employees as well as the brand name. Accelleron and OMT remain committed to deepening relationships and cooperation with OEMs, including across its service businesses.
