UTEC acquires Geomarine LtdCompany News // December 4, 2012
Offshore survey company UTEC has announced the acquisition of Geomarine Ltd. UTEC – which is based in Houston, Texas and has offices around the world including Aberdeen, Scotland – has acquired Geomarine Ltd, which is headquartered in Newcastle-upon-Tyne with operational offices in Bath, England and Singapore.
The company said the move "will capitalize on a natural and highly complementary fit between the two companies, providing a unique opportunity to enhance and increase the range of services offered."
Commenting on the acquisition, UTEC CEO Martin O’Carroll said: “The addition of Geomarine to our team marks a significant step forward in the UTEC group’s overall growth ambitions. Geomarine will add focus to and consolidate our global geotechnical capabilities and increase our service offering significantly.”
Geomarine Ltd managing director Peter Allan, who will continue to head the company, added: “This transaction opens up a new field of possibilities for our staff and clients. UTEC has a global presence in the survey industry and will allow Geomarine to support clients more effectively, wherever they are located.
“UTEC will be investing in Geomarine, enabling us to grow the business and offer a wider range of services. We believe this will be to the benefit of our clients and look forward to working with them closely to continue to assist their business.”
Geomarine Ltd is a geotechnical engineering company providing expert consulting and specialist equipment services to a broad range of clients in the offshore oil and gas, power and telecom cables and renewable energy industries.