Royal IHC has acquired Fraser Hydraulic Power (FHP) in the UK, thus expanding its offshore rental fleet.
Founded in 1986, FHP designs and builds systems for laying subsea cables and umbilicals with tracked engines and tensioners, cable carousels, and drum handling systems in its product range. These are supplied to the subsea telecoms, renewables, and oil and gas industries.
FHP operates from a recently custom-built 28,000ft2 unit at the Neptune Energy Park in Walker, Newcastle.
According to Royal IHC, this new facility offers an opportunity for IHC to strengthen its position in these markets, centralise and further expand the offering of rental equipment, and provide a broader service offering to these customers.
In addition, Royal IHC also acquired Robbins Technology Group (RTG), a technology company specialising in providing services to the mineral sands industry, from Brisbane, Australia.
Bram Roelse, IHC’s CEO, says: “These acquisitions, both effective from 31 October 2015, fit perfectly within IHC 2020. The overall aim of this strategy is to reduce IHC’s dependence on the volatile shipbuilding industry by developing OPEX activities.”