Accelleron acquiring fuel injection systems maker

May 22, 2023

By Jack Burke31 May 2023

Addition strengthens Accelleron’s position in alternative fuel technologies in marine applications

Accelleron said it will acquire Italy’s OMT, a leading manufacturer of fuel injection systems for marine engines.

The acquisition is expected to be completed within the next few weeks.

Benefitting from complementary R&D competencies, an enhanced technology ecosystem as well as new fuel development initiatives, Accelleron said it will be able to better support clients to achieve their sustainability goals and decarbonize the shipping industry. The acquisition will further enrich Accelleron’s portfolio to better support customers with digital solutions.

The company said acquiring the market leader in the two-stroke engine sector reinforces Accelleron’s position as a partner of choice and leading innovator in the development of alternative fuel technologies, such as hydrogen, methanol, and ammonia, for large marine engines and other heavy-duty applications. Moreover, fuel injection is, like the turbocharger, a mission critical and engine performance defining component with intensive service needs.

“Decarbonization is the key market driver of our industry,” said Daniel Bischofberger, CEO of Accelleron. “As a leader in technology and commercial prototype projects with alternative fuels, this move to add fuel injection systems to our already comprehensive turbocharger portfolio is of strategic importance to Accelleron. It is designed to support our OEM customers to develop more fuel-efficient propulsion solutions and the operators to reduce their life cycle costs and carbon footprint. In addition, this acquisition strengthens Accelleron’s core business as well as its attractive financial profile with sustainable revenue growth, resilient margins, and strong cash flow.”

Giovanni Musso, CEO of OMT, said the transaction gives the company’s technology and dedicated workforce a global platform to further expand.

OMT offers a wide range of customized fuel injection equipment dedicated to addressing the specific requirements of our customers’ engines in the medium-speed and low-speed segments.

Our fuel injection systems cover a broad range of engine power outputs, from 1000 to 80000 kW, and encompass the following products:

Accelleron--formerly ABB Turbocharging--will take over OMT in its entirety, retaining all employees as well as the brand name. Accelleron and OMT remain committed to deepening relationships and cooperation with OEMs, including across its service businesses.

OMT adds inorganic revenue growth of at least 52 million Euro on an annualized basis on top of Accelleron’s guided organic revenue growth of 2 to 4% for 2023. The inorganic growth contribution for 2023 will depend on the closing date from which OMT will be consolidated within Accelleron’s financial statements.

Founded in 1930 and based in Turin, Italy, OMT has about 250 employees, mainly based at its Italian headquarters. It achieved revenues of approximately €52 million in 2022, of which the majority was generated through service-related demand and has a margin profile of above 20% EBIT.

The acquisition in the high double-digit million Euro range is an important milestone, marking a positive step in Accelleron’s growth strategy as an independent, listed company.