Aker Makes Double Subsea Splash

29 June 2011

Norway’s Aker Solutions is bulking up its subsea technology portfolio through the acquisition of a pair of compatriot companies.

Aker is, however, remaining quiet on the purchase price for Ing. Harald Benestad and Phaze Technologies, both located in Lierskogen.

In a statement announcing the deal today, Aker said the combined operating revenues of the two companies last year was Nkr 49 million ($9.05 million).

Aker said both companies are "leading suppliers of controls and power distribution products and advanced instruments for subsea applications”.

The acquisitions will continue to operate as independent companies with a combined current workforce of 33. There was no mention of any changes to management or workforce numbers.

Aker’s vice president of subsea, Mads Andersen, commented on the deal: "Benestad and Phaze Technologies have unique competence and experience within their fields and a strong commitment to developing leading edge and extremely reliable products.

"They have very strong technological expertise which will significantly broaden and deepen Aker Solutions' competence base.”

Aker recently won a $117 million contract from Statoil for topside modifications needed to make the Norwegian Sea Aasgard ­platform ready for a new pioneering subsea compression system.