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UK firm Tekmar Group, a market-leading technology provider of subsea protection systems announced that it has signed a sale and purchase agreement for the acquisition of Pipeshield International ltd from its founder Steven Howlett.
This is the third acquisition of the group since its admission to AIM in June 2018 and is continuing the strategy to acquire offshore energy businesses with synergies that have a clear subsea technology focus, have a complementary customer base and can leverage group support while growing under the similar market demands.
The acquisition further strengthens Tekmar Group’s technology offering enabling them to offer more subsea protection in addition to current suite of products including; concrete mattresses, scour protection, pipeline crossings. Further this extends within the group the track record within offshore wind and a longer standing heritage from oil and gas.
Pipeshield is a world leading technology provider of subsea concrete mattresses. These mattresses are used in the protection of subsea equipment such as pipelines and power cables within all marine environments, including offshore wind, marine renewables, oil and gas and marine civil engineering.
Concrete mattresses and associated products are used for the stabilisation and impact protection of subsea equipment in areas where they cannot be buried. They are also used to limit the development of localised scour (seabed erosion) on foundations, pipelines or in marine ports. The technology is highly complementary to Tekmar’s and has frequently been used in conjunction on past projects.
The business, which is headquartered in Lowestoft, has manufacturing operations local to its primary markets, including Aberdeen, UAE, Saudi Arabia and Singapore. The majority of Pipeshield’s production activity is undertaken at its new leased facility at Blyth in Northumberland, a major hub for offshore renewables activity in the UK.
Pipeshield provided its patented mattress protection technology to the first commercial wind farms, including E.on’s Scroby Sands in 2004. Most recently the business was awarded the prestigious East Anglia scope for Scottish Power’s project, which is currently under construction. Further, Pipeshield has a significant track record in the oil and gas and marine civil engineering markets, in which it has most recently supplied multiple contracts in the Middle East, including a multi-million-pound scope for the Dubai Marina Masterplan project in the UAE.
(Source and image: Tekmar)
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