Proserve acquires NautronixCompany News // September 8, 2015
Proserve Group LLC has acquired Nautronix, the well-known supplier of subsea digital acoustic communication products and positioning services to the oil and gas industry, based in Aberdeen. Proserv is a portfolio company of Riverstone Holdings LLC, an energy-focused private equity firm based in New York.
Employing 120 people, Nautronix internationally recognised for its through-water digital acoustic wireless communications and positioning systems, diver communications and vessel systems whilst also providing survey services. The company operates across the subsea sector provides a range of products and services including; NASNet, NASCoM, NASDrill, NASDive and survey services. The transaction includes Nautronix chief operating officer Mark Patterson joining Proserv.
David Lamont, Proserv’s chief executive officer, said: “We have been working on bringing the two companies together for over a year, and while times in our industry are challenging, the rationale and benefits to all stakeholders including employees, shareholders and our clients remain as strong, if not stronger than ever. I am also excited to have Mark join the senior management team at Proserv. He will lead the Nautronix team through the transition and integration process as well as assuming his senior global position as head of strategy and new ventures for the Proserv Group. Individually, the two companies have been doing well in these more demanding times; together, however, we are much stronger, bringing a combined technology platform that is both unique and of great potential to deliver truly game changing solutions to our customers to meet the challenges and more importantly deliver the opportunities facing the industry today and in the future.”
Mr Patterson said: "It was important for us to find the right company to partner with and we are delighted that it is Proserv. Strategically, this is a fantastic opportunity for Nautronix as we can leverage from the increased exposure globally. That, combined with our considerable experience in the drilling, subsea and survey market, presents us with considerable opportunities going forward."