Foreship adds Vaaka Partners as major investors in the company.

Finland Secondary 11 October 2019
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Foreship, a Helsinki, Finland-based company providing design and engineering services for the shipping industry, announced getting into an investment agreement for adding the private equity investor Vaaka Partners as shareholders in the company.

The deal, which has the financial details undisclosed, was made for 60% of the equity. After the transaction, Foreship's employee share ownership will be 40%.

Vaaka Partners’ representatives on the board will be Ilkka Pentikäinen and Petrus Blomqvist.

Foreship’s new Board of Directors includes Chairman of the Board Juha Heikinheimo, a highly respected advisor to the cruise shipbuilding and marine IT industries; Jukka Laiterä, one of the founders and former CEO of Deltamarin Group; and Mikael Frisk, former SVP HR at Fortum.

Foreship, founded in 2002 and led by CEO Lauri Haavisto, is a ship design and engineering company with more than 90 employees located in four offices in Finland, two in the US and one in Estonia. Customers include the world’s largest cruise lines, and ship-owners in the passenger, cargo and offshore sectors.