US engineers snag Ecosse
Oceaneering International buys Scottish offshore outfit for £50m
A subsidiary of US outfit Oceaneering International has acquired Scottish offshore company Ecosse Subsea Systems for £50m (€56m).
Ecosse provides offshore engineering, seabed preparation, route clearance and trenching services to the renewable energy and oil and gas industries and is based in Aberdeen.
The deal includes Ecosse's Scar and ScarJet seabed trenching systems.
Oceaneering president and chief executive Roderick Larson said: “We are pleased to complete the acquisition of Ecosse, which we believe offers Oceaneering the opportunity to expand our service line capabilities and grow our market position within the offshore renewable energy market, and provide our customers with proven tools to optimise installation projects.”
Ecosse director of global renewables and subsea projects Mark Gillespie said: “With Oceaneering's global strength, we expect to be better positioned to further penetrate the growing and emerging renewables and cable markets in Europe and the US.”
Image: Ecosse Subsea Systems