ATR Group expands subsea offeringCompany News // July 3, 2012
Oil and gas equipment services specialist ATR Group has completed its first strategic acquisition following its recent MBO supported by NBGI Private Equity.
The acquisition of Underwater Engineering Services (UES) strengthens ATR Group’s existing subsea capabilities and demonstrates the group’s commitment to investing in this dynamic, fast growing market.
UES specialise in the rental and supply of marine and subsea support equipment to the diving, ROV and survey sectors of the global offshore industry.
The company provides diver and ROV operated tooling as well as fully integrated packages, comprising deck cranes, winches, power packs, survey and deployment equipment.
UES was established in 2006 and is based in Foveran, on the outskirts of Aberdeen.
Following the acquisition of UES, ATR Group will have a turnover in excess of £20 million and the company’s workforce will increase by more than 13 per cent.
The Group is committed to investing in staff resource and additional equipment over the coming months to service the anticipated growth coming from its marine and subsea customer base.
Jeff Riddoch, managing director of UES will continue to lead the business along with his current team.
Keith Moorhouse, chief executive of ATR Group, said: “We are excited about welcoming Jeff and his team to ATR Group. UES is widely respected and has built up a significant track record for servicing the leading, specialist marine and subsea contractors.
“ATR Group is performing strongly and we have identified the subsea market as a key strategic area for many of our customers. We intend to invest substantially in UES for growth without losing its core focus and speciality.
“UES’s subsea rental offering and engineering capabilities are highly complementary to ATR Group’s existing surface rental and service offering."