Wartsila announced the sale of Wartsila Gas Solutions to Mutares in a statement on Monday.
The company did not provide the pricing details of the deal.
Subject to approvals, the transaction is expected to be completed in the second quarter of 2026, according to Wartsila.
In 2023, Wartsila announced plans to sell its gas solutions business as part of efforts to further streamline its marine portfolio.
Gas Solutions offers systems and comprehensive lifecycle solutions for the gas value chain.
Its core expertise includes handling of gas in maritime transport, inert gas systems, enabling gas-to-power, and delivering liquefaction and biogas solutions.
As part of Wartsila portfolio business, Gas Solutions has operated independently to accelerate performance improvements and unlock value to Wartsila through divestment.
In 2024, the annual revenue of Gas Solutions was 300 million euros ($351.7 million).
Bernd Bertram, head of portfolio business, Wartsila said this divestment is “yet another proof point of our portfolio business divestment strategy coming to life.”
“With Mutares, Gas Solutions will have a strong platform to continue driving the business, for the benefit of its customers and the highly skilled Gas Solutions professionals,” he said.
