HPR ROV Logo
HPR ROV Logo

Nautronix changes hands for second time in less than four years

Proserv, which acquired Nautronix in 2015, has sold the business to Imenco.
Pictured is David Lamont, former CEO of Proserv (l), Mark Patterson, Nautronix
Proserv, which acquired Nautronix in 2015, has sold the business to Imenco.
Pictured is David Lamont, former CEO of Proserv (l), Mark Patterson, Nautronix

Marine technology firm Nautronix has changed hands for the second time in less than four years.

The Aberdeen business is now a division of Imenco, a Norwegian supplier of subsea electronic and mechanical products, following its sale by Westhill-based energy service company Proserv.

Nautronix general manager Alan Buchan will continue to lead a 21-strong team moving from Proserv to Imenco’s facility at the Aberdeen Innovation Park, Bridge of Don.

The value of the deal, in which Simmons Energy advised Proserv, was undisclosed.

Nautronix, founded in Perth, Western Australia, in 1983, specialises in digital acoustic communications and positioning systems for the global offshore oil and gas industry.

North-east business duo Mark Patterson and Ian Suttie acquired it for about £18 million in 2002 before selling it to private-equity firm SCF Partners for tens of millions eight years later.

Proserv – now owned by OakTree Capital and KKR Asset Management – announced its acquisition of Nautronix for an undisclosed sum in September 2015.

Announcing the recent sale, Proserv said Nautronix was no longer core.

Source link

Craigmill, Pitcaple, Inverurie, Aberdeenshire, United Kingdom, AB51 5HP
envelope-ophonemap-ocrossmenuchevron-down
linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram