Aker Solutions closes Brazilian acquisition
Aker Solutions has completed its acquisition of the majority stake of Brazil’s C.S.E. Mecânica e Instrumentação Ltda.
The company announced plans to acquire a 70% stake of the company in October. The agreement includes an option for Aker Solutions to purchase the remaining 30% of the company three years from now.
Aker Solutions said that the acquisition gives it access to Brazil’s growing market for servicing existing oil and gas fields, and allows it to build on a strategy to expand its services business in key international markets.
C.S.E., which had revenue of BRL 322 million ($94 million) in 2015, provides maintenance, assembly, commissioning, and crane operation services at offshore and onshore facilities.