Company acquisitions: new owners for FES, Ramco Norway
Hunting Plc has acquired Flexible Engineered Solutions (FES), and Verket Investering has an agreement for the shares of Ramco Holding Norway and Ramco Norway.
FES’ fluid transfer solutions are used in FPSOs and subsea distribution systems, and Hunting says they provide significant product bundling and cross-selling opportunities for its other subsea businesses across key offshore regions.
Hunting Plc has acquired Flexible Engineered Solutions (FES) for £50 million ($68 million) as part of the group’s plan to grow its engineering capability in deepwater and ultradeepwater markets.
FES has developed proprietary subsea fluid transfer technologies and systems for offshore oil and gas and renewable energy industries.
Its fluid transfer solutions are used at FPSOs and in subsea distribution systems.
FES will be integrated into Hunting’s Subsea Technologies operating segment, reporting to segment managing director Dane Tipton.
In Norway, Øgreid subsidiary Verket Investering has an agreement for the shares of Ramco Holding Norway and Ramco Norway from UK-based Ramco Pipetech Holdings.
Ramco provides care and maintenance of oil country tubular goods (OCTG).
Despite the new ownership, Ramco Norway will continue to operate under the same name and management.
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Jeremy Beckman has been Editor Europe, Offshore since 1992. Prior to joining Offshore he was a freelance journalist for eight years, working for a variety of electronics, computing and scientific journals in the UK. He regularly writes news columns on trends and events both in the NW Europe offshore region and globally. He also writes features on developments and technology in exploration and production.
