Norway :IOS Offshore Acquisition Reinforces Acteon’s Mooring Services Capability


Acteon  completed its previously announced acquisition of IOS Holding AS and its subsidiary IOS Offshore AS from Norse Cutting & Abandonment AS.

Established in 1986, IOS Offshore is a leading supplier of mooring equipment and services to the Norwegian offshore oil and gas industry. The company has its headquarters and principal storage and workshop base in Stavanger, and additional operational facilities at several locations along the Norwegian coast.

IOS Offshore will continue to be headed by its managing director, David Smith, who will report to Tom Fulton, president of Acteon’s global mooring business, InterMoor.

David Smith said, “The moorings market is developing rapidly in terms of product innovation and also for cross-border business opportunities. Becoming part of Acteon means we can offer our existing customers an enhanced service; it also immediately exposes IOS Offshore to the global marketplace and expands the opportunities available for our people.”

Acteon’s existing Norwegian business, InterMoor Norge, will continue to operate from its Oslo base. It will work alongside IOS and focus on project-based opportunities for clients.

InterMoor Norge’s managing director, Dagfinn Hagen, will continue to report to Tom Fulton. Acteon enjoys the financial backing of First Reserve Corporation. Simmons & Company International (Aberdeen) provided corporate finance advice. Other advisers to Acteon during the transaction included Paull & Williamsons (Aberdeen) and Kluge (Stavanger) for legal advice and transaction management, and KPMG Transaction Services for financial due diligence.

Acteon provides the international offshore oil industry with specialised engineering services focused on linking subsea services. Acteon companies are 2H Offshore, Aquatic, CAPE Group Ltd, Claxton, Conductor Installation Services Ltd (CIS), Fluke Engenharia Ltda,

InterAct, InterMoor, Large Diameter Drilling (LDD), Mirage Machines Ltd, MENCK GmbH, Offshore Installation Services (OIS), Seatronics Ltd, Subsea Riser Products (SRP) and TEAM Energy Resources Ltd.

Source: claxtonengineering, July 1, 2010:

Share this article

Follow Offshore Energy Today

Events>

<< Dec 2019 >>
MTWTFSS
25 26 27 28 29 30 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15
16 17 18 19 20 21 22
23 24 25 26 27 28 29
30 31 1 2 3 4 5

Africa Oil Week 2020

For over 25 years Africa Oil Week has been the meeting place for Africa’s most senior E&P stakeholders.

read more >

CERAWeek 2020

 Each year, CERA clients gathered for a few days in Houston…

read more >

Offshore Technology Conference (OTC) 2020

The Offshore Technology Conference (OTC) showcases leading-edge technology for offshore drilling, exploration…

read more >

2020 EXPLORATION AND PRODUCTION STANDARDS CONFERENCE ON OILFIELD EQUIPMENT AND MATERIALS

The development of consensus standards is one of API’s oldest and most successful programs.

read more >

Jobs>

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply