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ROV Buyouts
18 Feb 2008
Expenditure on ROV operations, which has more than doubled since 2002 according to industry estimates, has just risen still further with news that Seaeye, the Fareham UK based company specialising in development of electrically powered systems for the offshore oil and gas industries, has been bought by Saab of Sweden for a reported £13m.
Originally founded in 1986, Seaeye has approximately 50 employees and annual sales of around £12m.
As a wholly owned subsidiary of Saab Underwater Systems AB, it is now known as Saab Seaeye Ltd.Chris Tarmey, resident chief executive, says the deal offers considerable market potential for development into other underwater operations where Saab has its own expertise in areas such as maritime security and defence.
Meanwhile, in Aberdeen, the Houston backed Triton Group has acquired privately owned ROV systems and components manufacturer Sub-Atlantic for £10m. It follows the Group’s recent acquisition of Perry Slingsby Systems in the US, which is a leading supplier of remote operating technologies to the offshore industries.
