GeoSea, the geotechnical and offshore solutions specialist of the DEME Group, has acquired the majority of G-tec shares.
G-Tec is a contractor specialized in offshore geotechnical and geological site investigations, marine geophysical and environmental surveys and deep-sea engineering services. GeoSea has bought 72,5 percent of Liege-based G-tec.
The remaining shares of the Belgian company are owned by Sociéte Régionale d’Investissement de Wallonie.
G-tec was founded on an academic background in 1993 and currently employs over 40 staff. The company also has a consolidated turnover of around €20 million and owns the unique offshore geotechnical investigation vessel ‘Omalius.’
“The highly specialized activities and know-how of G-tec represent a strategic fit, enabling the DEME-group to further reinforce its fully integrated services to the offshore renewables, oil & gas, civil engineering, and offshore mining market,” said DEME.
Furthermore, DEME took over from G-tec a concession in the Pacific Ocean several years ago for the exploration of manganese nodules.
GeoSea does not expect the transaction to have immediate large effects on its results.