Vestdavit, the leading 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.

Under the agreement, Fairbanks Morse Defense a leading provider of OEM parts, turnkey services, and advanced technologies for maritime defense, 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.

TREMENDOUS GROWTH
“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 realize our ambitions,” said Wigand. “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.”

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. “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.”

RECORD GROWTH
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,” Wigand added. “Together, we will consolidate our position and develop our davit offering on a secure footing to capture the opportunities ahead.” 

About Vestdavit

• Vestdavit is a market-leading Norwegian supplier of advanced boat-handling systems, with a track record of more than 2,200 davit deliveries mainly to navies and coastguards worldwide, as well as the offshore energy sector, over the past 40 years. Its robust systems with advanced features have well-proven reliability, safety, and efficiency in real-life operations.
• Vestdavit has also developed innovative solutions, such as Mission Bay, using new technology as it shapes the future of boat handling.

 About Fairbanks Morse Defense (FMD)

• Fairbanks Morse Defense (FMD) builds, maintains, and services the most trusted naval power and propulsion systems on the planet.
• For nearly a century, Fairbanks Morse Defense has been a principal supplier of a growing array of leading marine technologies, OEM parts, and turnkey services to the U.S. Navy, U.S. Coast Guard, Military Sealift Command, and Canadian Coast Guard.
•  FMD stands ready to rapidly support the systems that power military fleets without compromising safety or quality. In times of peace and war, the experienced engineers, sailors, and technicians of FMD demonstrate our commitment to supporting the mission and vision of critical global naval operations wherever and whenever needed.
•  FMD is a portfolio company of Arcline Investment Management.