Aker Completes Enovate Acquisition (UK)

Aker Completes Enovate Acquisition

Aker Solutions said that it had agreed to buy a controlling stake in Aberdeen-based Enovate. The transaction was closed on 26 February.

Enovate has developed a wide range of unique and patented components and products for use in open water workover systems, in riser workover systems, rigless intervention systems and drilling safety systems.

Enovate’s financial results will be consolidated in Aker Solutions’ subsea business area. The financial details of the acquisition are undisclosed.

LNG World News Staff, February 27, 2013; Image: Aker