Our History
The Awilhelmsen Group was established in 1939 by the shipowner Anders Wilhelmsen. In 1954 and 1958 respectively, Anders Wilhelmsen’s sons Arne and Gjert entered the company as employees. Both worked in the Group for the rest of their working lives and acted as Directors of the Board until the summer of 2012.
From 1939 until 1968, all business was shipping-related, with the main focus on dry cargo, tankers and car transportation. Shipping within different tonnage categories has always been and still is a part of the Group’s long-term strategy. The delivery of the newbuilt tanker Wilstar in 1967 and its subsequent earnings in a buoyant shipping market lay the foundation for the Group’s further investments and diversification into new business areas.
In the late 1960s, the Group chose to diversify into new business areas. In 1968, Awilhelmsen was part of establishing the Royal Caribbean Group (RCG), which, over the years, has developed into one of the world’s leading cruise operators. Since 1968, Awilhelmsen has been an active owner of RCG and remains a significant shareholder.
Since the middle of the 1970s, Awilhelmsen has also been active in the oil service industry, with investments in and operations of supply vessels, diving vessels and shuttle tankers – and later also accommodation rigs, FPSO, heavy-lift vessels, drilling rigs, VLCCs, container ships and LNG vessels.
In the 1990s, Awilhelmsen further diversified by entering the real estate market. This business area is operated through the wholly owned subsidiary Linstow AS. Linstow is one of Norway’s leading real estate companies with particular expertise in developing complex real estate projects and urban developments, often with long-time horizons. The company owns, develops, and manages real estate in various segments both in Norway and the Baltic countries.
From about 2000, Awilhelmsen was formally redefined from a shipping company to an investment company and organized as a Group. Investment in shares and other securities became a more significant part of Awilhelmsen’s activities. With the acquisition of the Nordic consumer electronics retail chain Power, then known as Expert, in 2007, the Group also diversified into retail. In 2015, AWC was established and now forms the springboard for further development of the business area of Industrial Investments. The investment sphere covers a wide range of industries, and both listed and private companies. Through active ownership, we strive to be a preferred partner, offering deep knowledge and high integrity. Our goal is to be Scandinavia's most attractive employer for investment professionals.
