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Marorka management completes buyout

(l-r) Gunnar Stefansson, Darri Gunnarsson, and Haraldur Orri Bjornsson, Marorka (l-r) Gunnar Stefansson, Darri Gunnarsson, and Haraldur Orri Bjornsson, Marorka

Maritime fuel data analytics company Marorka has been given a new lease of life after the firm’s management completed a buyout of the company following a decision by German investment group and parent company Mayfair to exit the business.

{mprestriction ids="1,2"}The management team has acquired all of the shares in Reykjavik-based Marorka under the deal, and says it will maintain the company’s core Icelandic operation and its Marorka Singapore arm, but has closed its German and Danish offices. All intellectual property rights, brand names, contracts and other assets will now be held by the Iceland and Singapore entities.

As a result of the changes the company says that it has simplified its corporate structure and streamlined management and administration, and while it regrets that “several good colleagues have left the company”,  it believes that a strong team remains to continue serving customers.

“Our products help operators improve efficiency by reducing oil consumption, while at the same time improving their environmental profile by cutting emissions,” said new Marorka CEO, Darri Gunnarsson.

“We look forward to helping existing and new customers find ways to improve their operations and reduce their environmental impact.”{/mprestriction}

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