A.P. Moller Holding’s wholly-owned subsidiary Circle Bidco ApS has announced a recommended public cash offer to acquire Concentric AB, a Swedish provider of flow control and fluid power technology for the commercial vehicle market, listed on Nasdaq Stockholm. The offer of SEK 230 in cash per share in Concentric has been unanimously recommended by the Board of Directors in Concentric, and is backed by shareholders in Concentric together controlling 16.7 percent of the outstanding shares in the company.

A.P. Moller Holding has entered into an agreement to combine its subsidiary Maersk Supply Service A/S with Norwegian DOF Group ASA (DOF Group) to create a leader supporting the offshore oil and gas industry. Maersk Supply Service’s innovative wind offshore installation concept will remain owned by A.P. Moller Holding as an independent offshore maritime company named Maersk Offshore Wind, focusing the growing global offshore wind installation market.

Tenderd is a global leader in digital transformation for heavy equipment management and operations.

Chetan Mehta, Head of Growth Equity at A.P. Moller Holding, said: “Tenderd is a leader within telematics solutions with a platform that offers real-time visibility and insights for heavy equipment across a range of industries. Their solutions enhance operational efficiencies, improve safety and mitigate carbon emissions. We are excited to be investing in Tenderd and we look forward to contributing to their continued growth.”