Acteon adds geotechnical and geophysical survey company to portfolio
- Business & Finance
Subsea services group Acteon has agreed to acquire offshore marine geotechnical and geophysical survey company Benthic.
Headquartered in Houston, USA, Benthic adds deepwater and ultra-deepwater surveying capabilities to Acteon through its proprietary portable remotely operated drill (PROD) technology, Acteon said on Thursday.
Benthic’s latest generation PROD system can conduct in-situ penetration testing and collect samples and cores in extremely challenging conditions, including seabed slopes greater than 20° and water depths exceeding 3000 m.
Benthic has recently executed work in South America in water depths exceeding 2100 m, and the latest equipment upgrades enable operations in depths up to 4000 m, and there are plans to expand services to include offshore wind and scientific research.
Steve Pywell, chief executive officer of Benthic, said: “I am excited by the opportunities offered by becoming part of Acteon, which will enable us to work collaboratively with the other companies in the group and allow us to offer a broad range of integrated solutions.”
Richard Higham, Acteon chief executive, commented: “Having Benthic in our portfolio greatly enhances Acteon’s existing survey businesses and further strengthens the group’s global offer; we plan to continue its existing program of capital expenditure to ensure it can service growing worldwide customer demand.”
The transaction is expected to complete in May 2019. Pywell will continue to lead the Benthic team.