Acteon completes Craig Group acquisitions

Acteon has completed the acquisition of three companies from the Aberdeen-based Craig Group.

Offshore staff

NORWICH, UK -- Acteon has completed the acquisition of three companies from the Aberdeen-based Craig Group. They are Seatronics, International Mooring Systems (IMS), and Chain Corporation International (ChainCo).

David Currie will continue to lead Seatronics and Alan Duncan will head IMS and ChainCo. Both will report to Bernhard Bruggaier, Acteon VP.

"These are valuable, specialist businesses that will raise our presence in the Middle East and Asia and enhance the service Acteon is able to offer its customers generally," says Bruggaier. "We targeted IMS and ChainCo because of their good fit with existing Acteon businesses. Seatronics provides us with an exciting opportunity to further expand our subsea services offering."

Together, InterMoor and IMS will possess the world's largest inventory of mooring equipment available for rental. The acquisition of Seatronics provides an entry for Acteon into the advanced marine survey sector. According to the company, the acquisitions will increase its combined annual sales to more than $400 million.

8/23/2007

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