TECO Maritime Group

What TECO Maritime Group does

TECO Maritime Group AS is a privately held Norwegian maritime services conglomerate founded in 1994 by Tore Enger and headquartered at Lysaker Torg 45, Oslo. The company delivers an integrated suite of marine engineering, system installations, ship repair, automation, and marine chemicals to enterprise customers across the global shipping value chain, including ship owners, ship yards, offshore oil and gas corporations, and management companies. Operations are organized through five wholly-owned subsidiaries: TECO Solutions (turn-key installations, surface treatment, and green retrofits), BLOM Maritime (3D digital data capturing and naval architecture), TECO Chemicals (IMO-approved cleaning and environmental chemicals including scrubber, SCR, and BWTS consumables), Crosscomar (international ship repair including turbocharger and engine work at anchorage, alongside, in dock, or on voyage), and TECO Electronics (maritime automation equipment repair and reconditioning).

The group's commercial focus has shifted toward the green transition of ocean-going shipping, with engineering, installation, or after-sales services delivered to more than 300 vessels in connection with new IMO regulations and consumables for green equipment supplied to more than 800 vessels. Core technology is maritime green-technology solutions, including decarbonization, environmental compliance, and emissions abatement systems, complemented by 3D digital scanning for as-built vessel data and IMO-approved chemical formulations for scrubbers, SCR systems, and ballast water treatment systems. The TECO Solutions subsidiary holds ISO 9001:2015 and ISO 14001:2015 certifications, providing quality and environmental management assurance to risk-averse shipping customers.

Revenue is generated through project-based B2B contracts with multi-year engagements, pricing determined by project scope, vessel specifications, and service requirements. Go-to-market is direct field sales through 14 owned offices spanning Houston, Miami, Gibraltar, Algeciras, Oslo, Skien, Montenegro, Athens, Krakow, Gdynia, Constanta, Fujairah, Dubai, and Singapore. Ownership is concentrated under TECO Group AS (60.78%), with TECO Holding AS (6.83%) and Citibank, N.A. as nominee (21.46%) among other minority holders. The group employs 101-250 staff globally, with BLOM Maritime alone accounting for 170+ employees. Leadership includes Group CEO Sigurd Gaarder Lange (since July 2019), Group CFO Jon Lorentzen Nordgard (since 2024), and Executive Chairman Tore Enger.

Name

TECO Maritime Group

Legal name

TECO Maritime Group AS

Website

https://teco.no

Company type

Private

Founded year

1994

Operating status

Operating

Headcount range

101–250 employees

Short description

TECO Maritime Group is a Norwegian privately held maritime services conglomerate, founded in 1994, that delivers marine engineering, green retrofits, ship repair, IMO-approved chemicals, 3D naval-architecture scanning, and automation services to ship owners, ship yards, offshore oil and gas operators, and fleet management companies worldwide through 14 offices and five operating subsidiaries.

Ownership category

akta.pro rank

Product category

Maritime Engineering and Repair Services

NAICS

Ship Building and Repairing (336611)

SIC

Ship & Boat Building & Repairing (3730)

akta.pro primary industry

Retrofits, Upgrades & Compliance Conversions (Scrubbers, BWTS, Alternative Fuels, Energy-Saving Devices) (TLAHAMAI)

akta.pro secondary industries

Retrofits & Modernization (Scrubbers, Ballast Water, Alternative Fuels, Energy-Saving Devices) (IMAJAFAH), Classification Society & Flag-State Liaison / Plan Approval Support (IMAJAGAN), Marine Electrical Installation, Commissioning & Field Services (IMAJAJAL), Engine & Mechanical Overhaul (Main/Aux Engines, Pumps, Valves, Compressors) (TLAHAMAD), Marine Outfitting & Interior Refurbishment (TLAKAKAL)

Keywords

• Maritime engineering services
• Ship repair services
• Marine chemicals supply
• Green retrofit installations
• Naval architecture services

Headquarters

HQ city

Oslo

HQ country

Norway

HQ region

Europe

Offices14 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Supply Chain, Technology or R&D, Marketing or Sales

Revenue model

1. Marine Engineering and Installation Services: Turn-key installations, repairs and surface treatment services for maritime and offshore oil & gas markets, including green retrofit projects
2. Marine Chemicals Supply: Supply of IMO approved cleaning chemicals, environmental chemicals, cargo hold/tank cleaning products and emissions abatement chemicals (scrubber solutions, SCR solutions, BWTS chemicals)
3. 3D Digital and Naval Architecture Services: Full-cycle 3D digital data capturing, engineering services and naval architecture through BLOM Maritime
4. Ship Repair Services: International ship repair services including turbocharger and engine repair, conducted at anchorage, alongside, in dock or on voyage through Crosscomar
5. Electronics and Automation Services: Repair and reconditions automation equipment from international manufacturers through TECO Electronics

Pricing tiers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels5 records

Core offering

TECO Maritime Group provides marine engineering, system installations, ship repair, automation, and IMO-approved marine chemicals to ship owners, ship yards, offshore oil and gas corporations, and management companies. Its offerings span green retrofit installations for IMO compliance, cruise interior installations, surface treatment, ship repair (at anchorage, alongside, in dock, or on voyage), 3D digital data capturing and naval architecture, and specialized cleaning and environmental chemicals for scrubbers, SCR systems, and ballast water treatment systems.

Product overview

TECO Maritime Group operates as a diversified maritime services conglomerate offering an integrated portfolio of specialized products and services through its five subsidiary brands. The portfolio includes TECO Solutions (turn-key installations, repairs, surface treatment, and green retrofits), BLOM Maritime (3D digital data capturing and naval architecture), TECO Chemicals (IMO-approved cleaning and environmental chemicals), Crosscomar (ship repair), and TECO Electronics (maritime electronics and automation services). The group provides marine engineering, system installations, ship repair, automation, and marine chemicals to offshore oil and gas corporations, ship owners, ship yards, and management companies worldwide.

Differentiator

Problem solved

Functional benefit

Products and services

• TECO Solutions Wholly owned subsidiary providing turn-key installations, repairs, and surface treatment services for the maritime and offshore oil & gas markets, with a strong focus on green retrofit installations and decarbonization solutions. Holds ISO 9001:2015 and ISO 14001:2015 certifications.
• BLOM Maritime World-leading supplier of 3D digital data capturing, engineering services, and naval architecture, specializing in capturing and optimizing as-is data for improved engineering and project execution. More than 170 employees worldwide and over 350 projects successfully completed.
• TECO Chemicals Specialized supplier of IMO-approved cleaning chemicals, environmental chemicals, and equipment for cargo hold, cargo tanks, and general cleaning since 1994, including Caustic Soda 50% solution for scrubbers, Urea 40% solution for SCR systems, and BWTS-related chemicals.
• Crosscomar Ship Repair Internationally managed ship repair service based in Algeciras, Spain, conducting ship repairs at anchorage, alongside, in dock, or on voyage, with specific experience in turbocharger and engine repair for ocean-going vessels.
• TECO Electronics Norwegian company providing maritime and offshore electronics and automation services with over 25 years of experience repairing and reconditioning automation equipment from international manufacturers, delivered in-house or on-site.
• Retrofit Installations Green technology retrofit installation services for ships to comply with new IMO regulations and environmental standards, delivered as part of the TECO Solutions service portfolio.
• Cruise Interior Installations Interior installation services tailored for cruise vessels, delivered through TECO Solutions to ship yards and cruise operators.
• Surface Treatment Surface treatment services for maritime vessels, delivered as a standalone service within the TECO Solutions service portfolio for ship owners and ship yards.
• Ship Repair Comprehensive ship repair services delivered through TECO Solutions, covering repairs at anchorage, alongside, in dock, or on voyage for ship owners and operators.

Quantifiable outcome

• Reduced off-hire and turn-around time for vessel operators
• +5 more outcomes

Named customers4 records

Segments3 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Scale indicators7 records

Recent moves5 records

Expansion highlights5 records

Emerging players

• DNV: Norwegian classification society and maritime advisory firm with growing services in regulatory compliance, decarbonization advisory, and verification. Adjacent to TECO's IMO-compliance retrofit value chain and increasingly competing in green-transition consulting.
• MacGregor (Cargotec): Finnish-headquartered marine cargo and load-handling equipment supplier with global service network. Adjacent competitor in vessel equipment installation and lifecycle services, particularly for offshore and cargo vessels.

Broad incumbents

• Wilh. Wilhelmsen Holding: Norwegian maritime group providing ship management, maritime services, and global logistics. Overlaps with TECO's ship owner and management company customer base and competes in ship services, but operates a much broader, asset-heavy portfolio.
• ABB Marine & Ports: Global supplier of marine propulsion, automation, and electrical systems with a broad installed base. Competes in marine electrical installation and automation retrofit work but across a wider portfolio including shore power and electric propulsion.
• Vard (Fincantieri): Norwegian-based shipbuilder with significant ship repair and conversion/retrofit operations. Directly comparable to TECO Solutions and Crosscomar in retrofit and ship repair work, but as part of a larger global newbuild and offshore-vessel portfolio.

Direct peers

• Alfa Laval: Swedish supplier of marine equipment including scrubbers, ballast water treatment systems, and heat exchangers. Competes with TECO in the BWTS, scrubber, and IMO-chemical compliance segments and operates a global service network.
• RH Marine: Dutch marine electrical and automation specialist focused on installation, integration, and service for commercial vessels and naval ships. Directly comparable to TECO Electronics and TECO Solutions in marine electrical installation and commissioning work.
• Wärtsilä: Finnish marine technology group providing engine overhaul, lifecycle services, decarbonization solutions, and exhaust treatment systems. Directly competes with TECO Solutions, Crosscomar, and TECO Chemicals in ship repair, green retrofit, and IMO-compliance markets.
• Yara Marine Technologies: Norwegian-headquartered supplier of scrubber systems (PureSOx) and ballast water treatment systems for the maritime industry. Directly competes with TECO's green-retrofit and BWTS-related chemicals business on IMO compliance.
• Kongsberg Maritime: Norwegian provider of marine electrical, navigation, and automation systems with global service capability. Directly comparable to TECO Electronics and the marine automation/installation work delivered by TECO Solutions.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

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• Xtwitter.com/TECOMaritimeGrp

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Subsidiaries5 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about TECO Maritime Group