Aker Arctic and Bluetech Finland to join forces strengthening Finnish icebreaker design expertise
Aker Arctic, world’s leading company specialized in the design of icebreakers and ice-going vessels, is meeting the growing demand for icebreakers by acquiring Bluetech, its Finnish long-time ship design partner. Both companies will continue to operate under their own brands. The new entity Arctic Ship Design is owned by Finnish Industry Investment (Tesi) and ABB, the current shareholders of Aker Arctic.
Aker Arctic is the world’s leading company specializing in the design of icebreakers and ice-strengthened vessels, and Bluetech is its long-time domestic partner in ship design. Technically, the transaction will be carried out according to the agreement signed today, whereby the ownership of Aker Arctic Technology Oy (“Aker Arctic”) and Bluetech Finland Oy (“Bluetech”) will be transferred to a newly established company, Arctic Ship Design Oy (“Arctic Ship Design”), created for the purpose of owning these companies.
“The merger of two top players in the field into the same group strengthens the growth potential of Finnish icebreaker expertise and the marine industry. There are unprecedented opportunities ahead in the icebreaker business,” says Jussi Hattula, Director responsible for industrial investments at Tesi.
Tesi’s ownership of the new group’s parent company, Arctic Ship Design, is approximately 80%. Tesi made its initial investment in Aker Arctic in 2013, when it acquired a majority stake –66.4 percent–of Aker Arctic Technology Oy’s shares from STX Finland Oy through its subsidiary, Tesi Industrial Management.
“Tesi generally acts as a minority investor. However, in the case of Aker Arctic, Tesi has been a majority owner from the beginning because the company holds special significance for the entire Finnish marine industry, and the state has had a particular interest in ensuring the preservation and development of the company’s expertise in Finland,” Hattula continues.
Read more:
- Press release by Aker Arctic, 19 May 2025
- Press release by Tesi on the purchase of Aker Arctic from 2023
Additional information:
Jussi Hattula, Director, Industrial Investments
jussi.hattula@tesi.fi
+358 40 066 9955
Tesi (officially Finnish Industry Investment Ltd) is a state-owned, market-driven investment company that invests in venture capital and private equity funds and directly in Finnish startups and growth companies, and to new industrial scale businesses. tesi.fi | X (Twitter) | LinkedIn | Instagram | Bluesky | Threads | Newsletter