Engineering company Aquaterra Group has announced its acquisition of Subsea Engineering and Technical Services (SETS).
The acquisition was signed on 7 February but was announced on Monday. Both companies work in subsea and offshore construction, wth both operating from Aberdeen, UK.
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They will combine forces on technologies such as inflatable barriers for accessing underwater surfaces, known as caissons. Aquaterra Group said it is currently involved in the removal and repair of 40 caissons.
SETS is a conductor management and repair company. It has developed remote-controlled underwater equipment for maintaining conductors, and also designs and supplies bespoke shims for pipelines.
In a press release, Aquaterra said: “SETS has invested heavily, and has been at the forefront of the design and development of technically advanced subsea tooling for conductor cleaning and inspection, clamp repair and shim installation.”
Aquaterra Group is a British construction, training and equipment company specialised in working in hazardous areas. It provides risk analysis, fabrication, lifting, rigging and other offshore construction services.
It said the acquisition would allow access to better technology and greater value for money for customers.
In a statement, the company said: “The strategic integration of SETS within Aquaterra represents a major service development, allowing us to offer comprehensive, single-source, conductor and caisson intervention services above and below the waterline.
“We are committed to further strategic investment in our tooling over the next two years, to develop additional innovations including cutting and subsea composite wrapping of conductors, caissons and risers.”
