Founded in 1833 as a salvage company by Em. Z. Svitzer. Gradually diversified into towage, acquiring Det Forenede Bugserselskab in 1981, Goliath the following year and Claus Jørgensens Bugserbåde a year later. A controlling share was acquired by A.P. Moller-Maersk in 1979. The towage company Röda Bolaget was acquired in 1999 followed by the salvage and towage company Wijsmuller in 2001 and Adsteam Marine in 2007. The vessels and operations of Solent Towage were aquired in 2013. Demerged from A.P. Moller-Maersk in 2024.