Aker Solutions Acquire UK-based Subsea Company
29 January 2013Aker Solutions has agreed to acquire a majority stake in Aberdeen-based Enovate Systems Ltd.
Enovate Systems Limited is a leading technology company within the subsea well control equipment sector. The financial details of the acquisition are undisclosed.
Enovate, which currently employs 62 people, has developed a wide range of unique and patented components and products for use in open water workover systems, in riser workover systems, rigless intervention systems and drilling safety systems.
Specific advantages are superior cutting and sealing capabilities and the unique use of complete metal-to-metal sealing solutions which significantly reduce the probability of leakage and improve safety.
The company was established in 2002 and has cooperated with Aker Solutions for several years, specifically within the subsea and the oilfield services and marine assets business areas.
"Enovate has developed and qualified unique technology for safe and efficient well control. Components from Enovate are also important building blocks for systems within workover and well-intervention services for high pressure and ultra-deep water fields worldwide," says Åsmund Bøe, chief technology officer in Aker Solutions.
The company will continue to be developed as an independent supplier of well control components to subsea integrators, oilfield equipment manufacturers and oil companies. Aker Solutions say it is committed to invest in increased capacity and further development of the product range in close collaboration with current customers.