IKM Consultants Acquires Poseidon Consulting Services, Norway

IKM Consultants AS acquires 100 per cent of the shares in Poseidon Consulting Services AS (PCS) from Siemens AS, Norway and takes over 150 highly qualified colleagues and consultants with multi discipline backgrounds.

The consultants have mainly Subsea and Pipeline experience and will be a considerable supplement to the staff in IKM Consultants AS. This acquisition will strengthen IKM Consultants so they will be even more able to offer top competence and a wider range of consultants and specialists to their clients and common customers within the oil and gas industry.

The acquisition of PCS includes the company’s UK division with current contracts and frame agreements. The two companies will be able to offer their services and expertise through their common frame agreements both in Norway and internationally. This will make IKM Consultants AS one of the three largest companies offering consultancies to the Norwegian oil and gas industry, and will strengthen our position in the market.

“Size is important in order to meet the demands for quality and scope, and is necessary in requiring frame agreements from the market’s largest participants. These will contribute to interesting job possibilities that will make us attractive for potential consultants”, says Managing Director of IKM Consultants AS, Per Oscar Knutsen.

The company’s growth and development goes on also outside Norway. IKM Consultants AS experiences increasing demands for personnel to other parts of Europe and Asia. The company is therefore strengthening the office in Aberdeen, and is following its customers into the Asian market.

“There will be much activity in our market for many years to come, and IKM will take part in this increased activity, both in Norway and internationally”, says Arne Vervik, Executive Vice President in the IKM Group.

The implementation of the agreement between IKM Consultants AS and Siemens AS is dependent on the decision of The Norwegian Competition Authority.

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Press Release, May 24, 2013