Sweden's Trelleborg has, through its business area Trelleborg Offshore & Construction, signed an agreement and finalized the acquisition of the UK company Ambler Technologies Ltd.
The company, based in Lancashire, develops and produces composite materials that create strictly specified buoyancy and insulation properties in applications used primarily in deep-sea environments.
The acquisition provides Trelleborg with access to cutting-edge expertise and expanded production capacity of strategically important components.
It also strengthens Trelleborg’s position in oil and gas exploration and extraction, particularly in buoyancy modules for Remotely Operated Vehicles (ROVs).
The company’s head office and production facility are located outside the city of Manchester, U.K. Net sales in 2012 amounted to approximately SEK 50 M with good profitability. This bolt-on acquisition is part of Trelleborg’s strategy to strengthen positions in attractive and profitable market segments.
“With a focus on customer-centric development, we are moving in the direction of increasingly engineered polymer solutions with a higher technology and knowledge content," says Fredrik Meuller, President of the Trelleborg Offshore & Construction business area.
"The acquired operation commands unique expertise and experience in composite materials that complement our global offering, primarily in the exploration and extraction of oil and gas in deep-sea environments, but also in other interesting segments. In conjunction with the transaction, we will create a Center of Excellence focused on advanced buoyancy modules in deep-sea environments. We will be able to offer fully integrated and proprietary solutions to such equipments as Remotely Operated Vehicles (ROVs) and others that are used in deep waters.”
The transaction will be consolidated as of April 2013.