Acteon, a provider of subsea solutions and offshore engineering services, has acquired Bruce Anchor, a mooring equipment specialist.
Acteon said on Thursday that the acquisition adds to its capability in the mooring and installation market.
Providing anchor technology to global clients in the oil and gas and renewables sectors, Bruce Anchor will retain its independence within the Acteon portfolio, the company said.
Bruce Anchor was originally founded in 1972. According to Acteon, the company has been instrumental in the continued development of anchoring systems with improved holding capabilities.
Reporting to Bernhard Bruggaier, Acteon’s Executive Vice President of Operations, Bruce Anchor’s Director of Sales, Steve Broadbent, will manage the business. He will be supported by the founder, Peter Bruce, during the transition into Acteon.
Bruce said: “I’m pleased to hand over the reins and look forward to supporting Acteon during the transition and into the next era for the Bruce brand.”
Dr Bruggaier said: “The acquisition strengthens Acteon’s offering to its global client base. Whilst the products are complementary to those already in our Group companies, we will ensure that Bruce Anchor retains its independence to allow our moorings businesses to offer the best possible technical solutions for all applications.”
The transaction was completed on December 21, 2016.