Fugro strengthens position in Middle East - acquires DCN GlobalCompany News // September 25, 2013
Fugro has reached agreement to acquire DCN Global LLC, a company specialising in the provision of subsea engineering and diving services to the offshore civil and oil and gas industry, primarily in the Middle East.
"To an increasing extent, our clients in this region combine their ROV and diving inspection needs into a single contract," said Fugro. "With the acquisition of DCN Global, Fugro significantly strengthens its ability to offer an integrated offshore service package of survey, geotechnical and inspection, maintenance and repair services.
DCN Global, headquartered in Abu Dhabi, began in 2010 and has an excellent track record based on its engineering capabilities and the quality of its staff. The company employs 39 people onshore and has up to 170 contract staff offshore at any one time.
Fugro has already cooperated with the company on joint projects for the past two years.
DCN Global has enjoyed rapid recent growth of its business and is expected to generate revenues of approximately US$30 million in 2013. The company has worked for oil and gas, dredging and construction companies throughout the Middle East region including Abu Dhabi, Qatar and Saudi Arabia.
DCN Global will move its activities to Fugro’s offices by the end of this year. The current management team will stay on to continue to work for Fugro.
Completion of the deal requires standard regulatory approval which should be completed shortly.