Aqualis Offshore hits the market

September 27, 2013

A new offshore marine and engineering consultancy has been launched with the backing of a Norwegian investment outfit and the company's own management.

Aqualis Offshore was set up earlier in the summer and now has 40 staff and offices in offices in London, UK (HQ); Sandefjord, Norway; Houston, USA; Rio de Janeiro, Brazil; Singapore; Dubai, UAE; and Dammam, Saudi Arabia.

Further locations and an additional 30 staff, with significantly more in coming years, are to be added in coming months, sais CEO David Wells. 

The firm specializes in marine and offshore engineering consultancy, focusing on the shallow and deep-water offshore segments of the oil and gas industry. 

Its core services includes concept, FEED and basic design engineering for upgrades and conversions of jack-ups, FPSOs and rigs, marine warranty services, transportation and installation, rig moving, dynamic positioning, construction supervision and due diligence services. 

Wells says: “The timing is right, there is room in the market for an additional global player." 

Aqualis Offshore is currently owned 51% by Norwegian industrial and financial investment group Ferncliff, with the remaining 49% owned by employees.

In early September, Norwegian stock exchange listed company Clavis Pharma signed a letter of intent to acquire Aqualis Offshore for a fixed sum consideration, on an equity basis, with settlement in Clavis shares.

The consideration shares to be issued to the shareholders of Aqualis Offshore in connection with the proposed acquisition will be subject to an extensive lock-up period.

 


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