Aqualis to acquire Tristein
Aqualis ASA has signed a memorandum of understanding to acquire Tristein AS, a provider of marine operations for the offshore oil, gas, and wind industries.
OSLO, Norway –Aqualis ASA (OSE: AQUA) has signed a memorandum of understanding (MoU) to acquire Tristein AS, a provider of marine operations for the offshore oil, gas, and wind industries. The financial details are undisclosed.
In less than nine months, Aqualis Offshore has established 10 offices in several of the world’s key oil and gas regions. “Aqualis Offshore has quickly built up a presence on the Norwegian continental shelf (NCS), but the Tristein acquisition will significantly increase our capabilities and capacity on the NCS,” said David Wells, CEO of Aqualis Offshore, an offshore marine and engineering consultancy firm.
In the offshore industry, Tristein personnel have served as master mariners, offshore installation managers, offshore managers, and logistic managers. The company operates through three main business areas: marine operations and logistics, engineering and survey, and renewable energy.
The transaction is expected to be closed at the end of 1Q 2014 or early in 2Q 2014.