Bibby merging with Rever Offshore
Fara Holdco, owner of the Bibby Offshore group of companies, has agreed to merge Bibby with Rever Offshore.
ABERDEEN, UK– Fara Holdco, owner of the Bibby Offshore group of companies, has agreed to merge Bibby with Rever Offshore.
Rever’s subsidiaries include CECON Contracting, an internationalsubsea and offshore contractor, and two vessel companies that own both the Cecon Excellenceand Cecon Sovereign.
Fara expects the combined group to create a larger and stronger offshore installation delivery business in the North Sea and elsewhere. The new company will continue to assess growth opportunities in diving and subsea umbilicals, risers, and flowlines.
Jo Braadlie, managing director of CECON Contracting, said the merger would “allow both parties to support each other with the view to taking on more and larger work scopes in a broader market.”