Motive Offshore Group, specialist in marine equipment fabrication and rental, has rounded off the final quarter of 2019 with the launch of a new Flexibles division and supporting acquisition on Dec. 4.
Motive has completed the acquisition of Stavanger-based Pumptech for a seven-figure sum, reflecting the ambitious growth strategy which follows significant investment earlier this year from private equity firm, EV Private Equity.
Specialists in flexible flowlines and umbilical testing, Pumptech also brings a notably-large fleet of zone 2-accredited hydraulic pump units. On the back of a strong successful international operational history in oil and gas, renewables and maritime markets the combination of services are seen by Motive COO, James Gregg, as fundamental to the continuing global growth of the company, providing clients with an enhanced one-stop shop, focused on lowering clients costs with highest possible service levels and quality.
“These recent developments are reflective of our continuous drive to offer unparalleled solutions for, as we put it, ‘the back-deck and beyond’. 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,” Gregg said.
The new division sees the appointment of Richard Charles as flexibles division manager. With a track record of senior roles within the flexibles field, his appointment is described by Gregg as “highly influential”.
Launched in 2010 by James Gregg and Dave Acton, Motive Offshore Group is headquartered in Boyndie, Banff, Scotland, with additional offices in Aberdeen, Houston, Norway and the Middle East.
Recommended Reading
DXP Enterprises Buys Water Service Company Kappe Associates
2024-02-06 - DXP Enterprise’s purchase of Kappe, a water and wastewater company, adds scale to DXP’s national water management profile.
ARM Energy Sells Minority Stake in Natgas Marketer to Tokyo Gas
2024-02-06 - Tokyo Gas America Ltd. purchased a stake in the new firm, ARM Energy Trading LLC, one of the largest private physical gas marketers in North America.
California Resources Corp., Aera Energy to Combine in $2.1B Merger
2024-02-07 - The announced combination between California Resources and Aera Energy comes one year after Exxon and Shell closed the sale of Aera to a German asset manager for $4 billion.
Vital Energy Again Ups Interest in Acquired Permian Assets
2024-02-06 - Vital Energy added even more working interests in Permian Basin assets acquired from Henry Energy LP last year at a purchase price discounted versus recent deals, an analyst said.
DNO Acquires Arran Field Stake, Continuing North Sea Expansion
2024-02-06 - DNO will pay $70 million for Arran Field interests held by ONE-Dyas, and up to $5 million in contingency payments if certain operational targets are met.