HD Hyundai agrees to acquire Goltens Worldwide for $247 million
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HD Hyundai Marine Solution (HMS) has agreed to acquire the entire share capital of Goltens Worldwide, one of the world's largest privately held marine engineering and repair companies, headquartered in Dubai. According to Sea Trade Maritime and Maritime Executive, the deal is valued at approximately $247 million, while Splash 247 puts the figure at $247.5 million. The transaction is expected to close between the final stretch of 2026 and the first quarter of 2027, although Splash 247 specifies that completion is slated for February 2027, subject to regulatory approvals.
A company with a long track record
Goltens was founded by Sigurd Golten in New York in 1940 and has specialized in afloat repairs, engine maintenance and overhaul, and engineering services for ships and industrial plants. Sea Trade Maritime notes that the company operates out of 20 locations in 15 countries, while Maritime Executive and Splash 247 report that it has 28 locations in 15 countries. Splash 247 adds that Goltens also has 19 workshops, employs some 1,300 specialists and serves more than 2,300 customers and 5,500 vessels, while Maritime Executive states that the company works annually with more than 3,000 shipowners, shipyards, industrial plants and power stations.
Operational independence and synergies
Following the deal, Goltens will continue to operate as an independent service provider, retaining its management structure under CEO Sandeep Seth, according to all three sources. The companies' stated goal is to combine Goltens' engineering and service capabilities with HMS's strengths to meet growing demands for maintenance, operational efficiency and decarbonization across the maritime, energy and industrial sectors.
Expansion in the aftermarket
For HD Hyundai, the acquisition represents a key opportunity to expand its presence in the global aftermarket services market, according to Maritime Executive. HMS, established in 2016 as the South Korean group's marine aftermarket arm, initially focused on spare parts and technical support for vessels built by Hyundai's shipyards and later expanded into engine services, environmental retrofits, digital fleet management and fuel supply, according to Splash 247. The publicly listed company is seeking to establish itself as a full lifecycle marine service provider.
Statements from Goltens
Goltens Worldwide CEO Sandeep Seth said the agreement creates an opportunity to expand what the company can offer its customers, stressing that independence and customer trust are central to the business, and that with HMS there is ample room to invest, grow and build capabilities. According to Sea Trade Maritime, during the transition period customers will continue to be able to rely on the company's established contacts and network for ongoing projects, planned maintenance and urgent support.
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