Balmoral takes stake in UK mooring specialist

Offshore buoyancy specialist Balmoral Group has committed to invest £10 million ($13.5 million) in Turriff-based ACE Winches.

Offshore staff

ABERDEEN, UK – Offshore buoyancy specialist Balmoral Group has committed to invest £10 million ($13.5 million) in Turriff-based ACE Winches.

The two companies aim to strengthen ACE’s position as a mooring, lifting, pulling and deploying solutions provider in more than 50 countries.

However since the oil price decline, new projects have slowed down and ACE has had to restructure to take advantage of global rental opportunities.

With the new investment ACE will look to expand its equipment hire business on a global basis and the two companies, both privately owned, see synergies in their organizations.

09/19/2017

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