Helix Energy Takes Majority Stake in Aberdeen Based Subsea Company
Houston-based offshore energy services firm Helix Energy Solutions has bought a majority stake in Aberdeen-based Subsea Technologies Group Limited (STL).
STL is a subsea engineering company specializing in the design and manufacture of subsea pressure control equipment, including well intervention, well control and subsea control systems. The companies did not disclose terms of the acquisition.
Scotty Sparks, Executive Vice President and Chief Operating Officer of Helix, stated: “This acquisition provides Helix with a significant opportunity to offer in-house engineering services, product development, and systems engineering, whilst also enabling us to accelerate the development of new well intervention technologies and provide an enhanced product and service offering.”
Drummond Lawson, co-founder and Chief Executive Officer of STL, added: “We are excited about the acquisition, as joining Helix represents opportunities for company growth and to strengthen our capabilities, products and service offerings. STL will continue to provide industry leading service to our clients, and we look forward to engaging existing and new clients alike in those opportunities.”
Going forward STL will operate from Helix’s offices in Aberdeen, and Lawson, along with Chief Technical Officer Dave McKay, will continue in their current roles.