Vestdavit, the renowned European supplier of advanced davit systems, has entered a new phase in its development through a landmark transaction under which it will be wholly acquired by Fairbanks Morse Defense (FMD), a portfolio company of Arcline Investment Management.
The acquisition provides Vestdavit with a stronger commercial platform to drive growth and expand globally across its core naval and offshore energy markets.
Offshore energy operators
Fairbanks Morse Defense a pioneering provider of OEM parts, turnkey services, and advanced technologies for maritime defence
Under the agreement, Fairbanks Morse Defense a pioneering provider of OEM parts, turnkey services, and advanced technologies for maritime defence, will acquire 100% of Vestdavit’s equity from its four owners.
Over the course of approximately 40 years, the founders Atle Kalve and Jan Sverre Røsstad, later joined by the other two ultimate owners - Rolf Andreas Wigand (CEO since 2006) and Ove Røssland, have together with the entire Vestdavit team, built the company into a premier global supplier of boat-handling systems supplying NATO navies as well as offshore energy operators around the world. Following the acquisition, Wigand will continue in his role as CEO.
Integrating Vestdavit into a larger entity
“Having seen tremendous growth in recent years, we are now embarking on a new chapter by integrating Vestdavit into a larger entity that can provide the resources to realise our ambitions,” said Rolf Andreas Wigand.
He adds, “The new owners have a long-term perspective and are committed to developing Vestdavit further as a standalone business while executing on our existing strategy.”
Vestdavit’s innovative solutions
Fairbanks Morse Defense regards Vestdavit as the foundation for a centre of excellence for davit technology
Fairbanks Morse Defense regards Vestdavit as the foundation for a centre of excellence for davit technology and a key platform for European expansion.
The company plans to leverage Vestdavit’s innovation and established brand to strengthen after-sales support and extend its reach into new markets.
“Vestdavit has earned its reputation as a trusted name in advanced davit technology,” said Steve Pykett, CEO of Fairbanks Morse Defense, adding “By joining forces, we can build on this legacy, broaden support for naval and offshore customers, and ensure Vestdavit’s innovative solutions continue to set the benchmark for reliability and performance in boat-handling systems.”
Vestdavit recorded growth in recent years
Founded in Bergen in 1982, Vestdavit has experienced record growth in recent years, driven by innovative product development, an expanded manufacturing facility in Poland, and increasing global demand for defense and offshore energy.
The company achieved record sales for the third consecutive year in 2024, with order intake reaching NOK 380 million, including some of its largest-ever contracts.
“With strong historical results and high future potential, the time is right for Vestdavit to become part of a larger system,” said Rolf Andreas Wigand, adding “Together, we will consolidate our position and develop our davit offering on a secure footing to capture the opportunities ahead.”
