French gas containment specialist GTT is spending $219.7m to buy maritime analytics firm Danelec from Verdane, a European private equity company. The transaction is expected to be completed at the beginning of the second half of 2025.
Danelec initially specialised in the development of voyage data recorders (VDRs), before branching out into safety and performance software.
Danelec brought Nautilus Labs to its fold in 2023 after purchasing Norwegian firm KYMA in 2021.
Philippe Berterottière, chairman and CEOof GTT, said: “With this transaction, GTT becomes the global leader in the high-growth segment of vessel performance management and positions itself as a leading player in the strategic VDR market.”
Stuart Turley is President and CEO of Sandstone Group, a top energy data, and finance consultancy working with companies all throughout the energy value chain. Sandstone helps both small and large-cap energy companies to develop customized applications and manage data workflows/integration throughout the entire business. With experience implementing enterprise networks, supercomputers, and cellular tower solutions, Sandstone has become a trusted source and advisor. He is also the Executive Publisher of www.energynewsbeat.com, the best source for 24/7 energy news coverage, and is the Co-Host of the energy news video and Podcast Energy News Beat. Energy should be used to elevate humanity out of poverty. Let's use all forms of energy with the least impact on the environment while being sustainable without printing money. Stu is also a co-host on the 3 Podcasters Walk into A Bar podcast with David Blackmon, and Rey Trevino.
Stuart is guided by over 30 years of business management experience, having successfully built and help sell multiple small and medium businesses while consulting for numerous Fortune 500 companies. He holds a B.A in Business Administration from Oklahoma State and an MBA from Oklahoma City University.
Last year, Maran Tankers ordered eight LNG dual-fuel vessels at China’s New Times. Although the future Suezmax vessels will not be equipped with GTT systems, Maran Tankers has chosen to collaborate with GTT due to […]
The market requires up to 95 additional liquefied natural gas carriers to ship contracted volumes of LNG from plants under construction, according to GTT’s chief Philippe Berterottière. Berterottière said during GTT’s 2023 results presentation on […]
French LNG containment giant GTT has received approvals from classification society BV for its new cargo containment systems developed for ethane transport. BV granted AiPs for GTT’s Mark III Slim and NO96 Slim containment systems. […]
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.
