Norwegian private equity group HitecVision is selling marine construction contractor Ocean Installer to another company it sold earlier this year.
Offshore energy and marine services business Moreld, owned by McIntyre Partners consortium, will be taking over Ocean Installer for an undisclosed sum.
Moreld, which provides services to a range of blue-chip clients such as Equinor, Vår Energi, Aker BP, Total Energies, Shell, ExxonMobil and Chevron, said the deal would create a diverse offshore engineering and project execution group, capable of providing topside, subsea, and marine engineering, as well as maintenance and construction services.
“This acquisition marks a significant step forward in our strategic growth plan,” said Geir Austigard, CEO of Moreld.
Ocean Installer was established in 2011 by HitecVision has about 280 employees across headquarters in Stavanger, Norway, and with offices in Oslo, Houston, Aberdeen, and Dubai.
It will be integrated into the Moreld Group as a standalone sister company alongside Moreld Apply and Global Maritime and retain its brand name.
The acquisition is expected to be finalised by the end of June.
