Erma First, an expanding Greek manufacturer of ballast water treatment systems (BWTS), has bought a niche US rival to expand its product range.
The purchase of oneTank is the third corporate acquisition by Erma First in three years and adds impetus to an expansion drive that saw the Greek company widen its footprint well beyond its original, core business.
In 2019, Erma First gobbled up Metis Cyberspace Technology, a Greek company that aggregates and monitors ship engine performance data in real time. Last May, it acquired RWO, a German water treatment specialist in bilge water separation and waste water treatment systems for ships, ports and offshore installations.
The latest acquisition by Erma First allows the company to offer a smaller, easier way to install BWTS.
“This is a game-changing ballast water treatment technology,” managing director Konstantinos Stampedakis said in a statement, pointing to the small size and compact design of oneTank's system.
A subsidiary of Seattle-based marine engineering firm Glosten, oneTank obtained US Coast Guard and International Maritime Organization approval for its product last year. In December, the company announced that it was selected by Overseas Shipholding Group (OSG) as BWTS provider for the aftpeak tanks of its tankers.
Focusing on that part of the ship, Glosten engineers said they developed a small, simple and compact system suitable not just for large vessels but for smaller yachts, tugs and offshore support vessels as well.
The BWTS developed by oneTank is “half the size of its nearest competitor” and its power consumption is “similar to that of a household washing machine”, Erma First said in a statement.
Erma First, one of the first companies to obtain US type approval for its larger-size BWTS back in 2017, got its first big boost that same year with a contract to install the systems on more than 30 large ships from US-listed Safe Bulkers.
“They [Erma First] have a commitment to research and development and, crucially, they have the financial resources required to market... [oneTank's] product internationally,” oneTank managing director Kevin Reynolds said.
“We are excited to see our product go global.”
