G&O Maritime Group, a Denmark-based supplier of niche maritime equipment owned by Polaris Private Equity, has agreed to acquire Eltronic FuelTech from Eltronic Group.
Following the deal, the enlarged group will generate more than DKK 1.1bn in annual revenue and employ over 700 people, primarily in Denmark, with additional offices and production facilities in Dubai, China and South Korea.
Eltronic FuelTech designs and manufactures fuel supply systems enabling vessels to operate on alternative fuels including methanol and ammonia. The company has recorded double-digit growth in recent years and positions itself as an early mover in green fuel systems.
G&O Maritime Group CEO Anders Egehus said the acquisition represents a “natural strategic match”, citing platform advantages and a shared stakeholder landscape. Chairman Jesper T. Lok added that the move supports the group’s growth strategy and strengthens synergies within its Propulsion Management division, particularly in the aftermarket segment.
Louise Andreasen will continue as CEO of Eltronic FuelTech, which will retain its headquarters in Hedensted and operate unchanged under the new ownership structure.
The transaction is expected to close in the first quarter of 2026.
