Wärtsilä sells Gas Solutions division including biogas operations

Finnish technology group Wärtsilä Corporation has reached an agreement to sell its Gas Solutions business unit to German private equity firm Mutares SE & Co. KGaA, the company announced today.
The Gas Solutions division, which generated annual revenues of €300 million in 2024, specialises in systems and lifecycle solutions across the entire gas value chain.
The business unit has established itself as a market leader through its expertise in multiple gas technology sectors.
Core operations include gas handling systems for maritime transport, inert gas systems, gas-to-power conversion technologies, and critically, liquefaction and biogas solutions.
The division serves clients globally, supporting their transition towards sustainable energy operations through innovation, digitalisation, and lifecycle expertise.
Gas Solutions has been operating as part of Wärtsilä's Portfolio Business division, a segment designed to function independently whilst implementing performance improvements ahead of eventual divestment.
The sale to Mutares represents a continuation of Wärtsilä's strategic portfolio restructuring strategy.
Bernd Bertram, Head of Portfolio Business at Wärtsilä, commented on the transaction: "This divestment is yet another proof point of our Portfolio Business divestment strategy coming to life. With Mutares, Gas Solutions will have a strong platform to continue driving the business, for the benefit of its customers and the highly skilled Gas Solutions professionals."
The divestment remains subject to regulatory approvals and customary closing conditions.
Wärtsilä expects the transaction to complete during the second quarter of 2026, pending these approvals.
Terms of the sale, including the purchase price and financing arrangements, were not disclosed in the announcement.
Mutares SE & Co. KGaA specialises in acquiring medium-sized companies undergoing transition or restructuring.
The German private equity firm typically targets businesses with established market positions that can benefit from operational improvements and strategic development under new ownership.
The acquisition of Gas Solutions aligns with Mutares' focus on industrial and technology sectors, particularly those serving energy transition markets.