L&T Divests UK Unit Servowatch Systems to Rolls-Royce to Focus on Core Biz

L&T, through its wholly owned subsidiary, Larsen & Toubro International FZE, have signed definitive agreements with Rolls-Royce’s Power Systems Division, a global player in the power systems for strategic divestment of its UK-based integrated marine automation solutions provider Servowatch Systems.

December 02, 2020. By Manu Tayal

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With an aim to unlock value within the existing business portfolio, the USD 21 billion Larsen & Toubro (L&T), India’s leading engineering, procurement and construction (EPC) projects, manufacturing and services conglomerate, has divested its marine automation business unit Servowatch Systems in the United Kingdom.

L&T, through its wholly owned subsidiary, Larsen & Toubro International FZE, have signed definitive agreements with Rolls-Royce’s Power Systems Division, a global player in the power systems for strategic divestment of its UK-based integrated marine automation solutions provider Servowatch Systems.

A leading supplier of advanced and innovative integrated ship control systems, Servowatch Systems has grown into an internationally recognized provider of Marine Automation platforms over the past 8 years of L&T’s ownership.

The company headquartered in Heybridge, Essex, United Kingdom has 44 employees in the UK and India, who deliver integrated marine automation solutions for navies, commercial vessels and large yachts.

Commenting on the divestment, S.N. Subrahmanyan, CEO & MD, Larsen & Toubro said that, “the divestment of Servowatch Systems is as per our stated goal of unlocking value within the existing business portfolio by divesting non-core units. L&T facilitated the business to develop an award-winning software platform for the latest generation of marine integrated platform management systems that are sold globally to many navies and commercial operators. We believe its partnership with Rolls-Royce and its product and solution brand MTU will pave the way for its further growth.”

In August this year, L&T had concluded the strategic divestment of its Electrical & Automation (L&T E&A) business to Schneider Electric, a global player in energy management and automation. The company has continuously evaluated its business portfolio and took capital allocation decisions from a long-term perspective. Its exit from the Electrical & Automation Business, as well as Servowatch Systems, is a part of the strategic portfolio review process.

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