Hallin Marine acquires Prospect Flow Solutions

Hallin Marine has acquired Prospect Flow Solutions, an engineering consultancy service company.

Offshore staff

SINGAPORE -- Hallin Marine has acquired Prospect Flow Solutions, an engineering consultancy service company.

Formed in 1999, Prospect employs some 40 people, based in offices in Aberdeen, Derby, Stavanger, and Houston.

Prospect's chief executive and management team will continue to run the business and its name will not change, except to be branded as part of the Hallin group.

"This is Hallin's first acquisition and the company took a long and detailed look at a number of subsea engineering companies before initiating talks with Prospect," says John Giddens, Hallin's CEO. "We are delighted to welcome Prospect into the Hallin family and see the acquisition as bringing major benefits to both businesses. Prospect will benefit from Hallin's global relationships and financial resources and Hallin will benefit from having excellent access to the specialist subsea engineering design capability."

09/02/2008

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