Bibby merges with Rever

UK's Bibby Offshore has announced that it is merging with Norwegian player Rever Offshore that will create a larger and more robust business both in the North Sea and internationally.

The Bibby-Rever platform will be in a good position to deliver enhanced both service quality and efficiency.  The combined company will continue to evaluate growth opportunities in its core diving and subsea umbilicals, risers, and flowlines markets.

The deal is agreed and expected to close soon.

Rever’s subsidiaries include CECON Contracting AS, an international subsea and offshore contractor, as well as two vessel companies which own both the Cecon Excellence and Cecon Sovereign. The combination will create a larger and more robust offshore installation delivery business.

Executive chairman of Fara (owners of Bibby), Riulf Rustad, said: “This transaction brings the excellent track records of both Bibby Offshore and CECON Contracting into a strong, focussed group. The complementary services and assets of each business produced a compelling industrial logic to join forces. The individual geographical strengths and subsea intervention skills of each business now allows the combined platform to offer a much wider range products and solutions to customers.”

Howard Woodcock, chief executive of Bibby Offshore, said: “Combining Bibby Offshore’s traditional diving and North Sea strengths with the international and engineering talents of CECON will create an operationally and financially strong business capable."

Jo Braadlie, managing director of CECON Contracting, added: “We are welcoming this expansion, and look forward to exploring and developing a synergy that provides added value to current and potential clients. It will also allow both parties to support each other with the view to taking on more and larger work scopes in a broader market.”