Motive Offshore forms flowline arm following Pumptech buy
- Business & Finance
Marine equipment fabrication specialist Motive Offshore has completed the acquisition of Stavanger-based Pumptech for a seven-figure sum.
Motive said that the acquisition of Pumptech reflected the growth strategy, which followed significant investment earlier this year from private equity firm EV Private Equity.
The company added that Pumptech was a flexible flowline and umbilical testing company with a large fleet of zone 2-accredited hydraulic pump units.
Motive COO James Gregg said: “We are already renowned for our capabilities in the field of winch production, rental and inspection; the launch of our Flexibles division builds upon many years of experience and track record in this segment and serves to formalize our expertise in the deployment and testing of umbilical equipment.
“Motive has had an existing relationship with Pumptech for some time, and on that basis, we are aware that there is a strong market demand for the services this acquisition provides to our clients.”
Motive added that Richard Charles was appointed as the Flexibles Division Manager. Commenting on his arrival at Motive, Charles stated: “There is a noticeable lack of comprehensive flexibles service providers in the North Sea; our immediate vision is to develop this in both the UK and Norwegian sectors.
“However, Motive’s impressive geographic footprint is already in place to facilitate future growth, and our ultimate objective is to build a holistic umbilical service on a global scale.”
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