Royal IHC buys UK subsea firm Fraser Hydraulic Power

Royal IHC has acquired Fraser Hydraulic Power (FHP), an offshore, marine and subsea technology firm based in Newcastle, UK. The purchase price was not disclosed.

FHP was previously owned by the Fraser family and has been established for over 30 years. The company designs and builds systems such as tracked engines and tensioners, cable carousels, and drum handling systems for laying subsea cables and umbilicals. The company exports over 60% of its products.

“The acquisition of FHP fits perfectly within IHC’s strategy to reduce IHC’s dependence on the volatile shipbuilding industry by developing OPEX activities,” Bram Roelse, CEO of Netherlands-based Royal IHC, said in a statement.

“The new FHP facility offers an ideal opportunity for IHC to strengthen its position in the offshore market, centralise and further expand the offering of rental equipment, and provide a broader service offering to our customers.”

FHP will continue to operate as normal, and will focus particularly on developing and expanding its equipment hire business, local press reports say.

“It is a great deal for the future of the business and it will ensure great opportunities for the company’s employees as they carve a place for themselves within a larger operation,” Peter Fraser, FHP’s former owner, told BDaily.

Holly Birkett

Holly is Splash's Online Editor and correspondent for the UK and Mediterranean. She has been a maritime journalist since 2010, and has written for and edited several trade publications. She is currently studying for membership of the Institute of Chartered Shipbrokers. In 2013, Holly won the Seahorse Club's Social Media Journalist of the Year award. She is currently based in London.
Back to top button