Concejo AB (publ) acquires a 50% stake in SAL Navigation AB

A subsidiary of Concejo AB (publ) has entered into an agreement with Marinovum Holding AB to acquire 50 per cent of the votes and capital in SAL Navigation AB.

SAL Navigation is one of the world’s leading companies in the specialist niche of integrated voyage data recorders (VDR). The company has previously been owned by Concejo AB and 50 per cent was sold in 2018 in a management buyout (MBO), and the remaining 50 per cent was divested in connection with Concejo’s divestment of its marine business in 2019. The Company has been growing at approximately 15 per cent per year in recent years. SAL Navigation AB is after the transaction 50 percent owned by Concejo AB (publ) and 50 percent owned by the management.

Concejo AB was advised by Mannheimer Swartling in the transaction, which signed and closed on 30 September 2022, and in the drafting and negotiation of material operational agreements.