Helix takes controlling interest in STL
HOUSTON – Helix Energy Solutions Group Inc. has acquired a majority stake in Subsea Technologies Group Ltd. (STL).
The Aberdeen-based subsea engineering company designs and manufactures subsea pressure control equipment, including well intervention, well control, and subsea control systems.
Terms of the acquisition were not disclosed.
Scotty Sparks, executive vice president and COO of Helix, said: “This acquisition provides Helix with a significant opportunity to offer in-house engineering services, product development and systems engineering, whilst also enabling us to accelerate the development of new well intervention technologies and provide an enhanced product and service offering.”
Going forward STL will operate from Helix’s offices in Aberdeen, and co-founder and CEO Drummond Lawson, along with chief technical officer Dave McKay, will continue in their current roles.