Foreship was founded in 2002 and specializes in ship design and engineering. Employing more than 100 naval architects, marine & structural engineers, interior & HVAC designers and electrical engineers, Foreship offers a comprehensive range of engineering solutions that include project coordination and management, classification design and engineering, as well as drydock and ships-in-operation services. Customers include the world’s largest cruise lines as well as passenger, cargo and offshore shipowners, leading shipyards and maritime suppliers. Foreship has a strong global footprint and excellent references from some of the biggest players in the cruise line and newbuilding businesses. The company’s revenue amounted to roughly 16 million euros in the latest fiscal year that ended in October 2019.

 

Vaaka Partners invested in Foreship in 2019 to support the company’s plans to expand its global market share, serve its customers more effectively, and strengthen its position in the rapidly growing cruise ship refurbishment and upgrade sector. Foreship’s new Board of Directors includes Chairman of the Board Juha Heikinheimo, a highly respected advisor to the cruise shipbuilding and marine IT industries; Jukka Laiterä, one of the founders and former CEO of Deltamarin Group; and Mikael Frisk, former SVP HR at Fortum.

Company

Foreship

Investment

10/19

net sales

16 MEUR (2019 f)

Deal team

Ilkka Pentikäinen, Petrus Blomqvist, Philip Kaustinen