Saab has acquired Sweden-based vessel manufacturer N. Sundin Dockstavarvet and the repair shipyard Muskövarvet.
The transaction is expected to help strengthen Saab’s product offering in the naval sector.
Saab subsidiary Kockums Business Area senior vice-president and head Gunnar Wieslander said: “Through the acquisitions, Saab will strengthen its product portfolio within surface vessels, as well as enhance its capacity for support and maintenance at the Muskö naval base.
“Saab’s global presence will also facilitate marketing and future exports for the Dockstavarvet products.”
Dockstavarvet is based outside Örnsköldsvik in northern Sweden and primarily focuses on the production of aluminium boats.
The company was established in 1905 and specialises in the development and manufacture of modern, high-speed combat and patrol boats that can be deployed for both military and civil applications.
It has provided more than 200 boats to customers across three continents to date.
Muskövarvet is situated at the Muskö naval base in the southern part of the Stockholm archipelago and offers full service repair works.
The facility primarily carries out works on the Swedish Navy’s amphibious forces and has been a sister company to Dockstavarvet since 2007.
Both acquisitions will form a new business unit within Saab’s business area Kockums.
Dockstavarvet and Muskövarvet generate combined sales of approximately Skr250m ($30.57m) and employ a total of 80 personnel.
Livingstone was the exclusive financial adviser to Dockstavarvet and Muskövarvet in relation to the sale, with Törngren Magnell acting as legal adviser.