Dutch's Royal IHC has agreed to buy all of the outstanding share capital of Oceanteam's Dutch based engineering and consultancy company KCI the Engineers B.V.
Dutch's Royal IHC has agreed to buy all of the outstanding share capital of Oceanteam's Dutch based engineering and consultancy company KCI the Engineers B.V.
IHC said it plans to maintain KCI as an independent brand and operating company which will continue to serve external clients whilst also working on IHC projects. Furthermore, Oceanteam continues to have access to KCI's engineering capabilities through a long term Service Level Agreement (SLA) between IHC and Oceanteam.
Diederik van Rijn, IHC group executive director said: "The acquisition of KCI fits within the overall strategy of IHC to further develop into a provider of knowledge and technology based services and products. KCI has built up an impressive track record in providing engineering solutions for the Oil & Gas sector.”
Haico Halbesma, CEO of Oceanteam added: "IHC presented a strategy that fits with the next step KCI has to take in terms of further expanding its unique designs and credentials list to become an even stronger partner for its clients.
Oceanteam said it will use the proceeds of the sale to improve the Company's liquidity and to reduce outstanding debts.
In a statement KCI said that’s its position in the oil and gas and renewable markets (network, know-how and R&D) is helpful for IHC to enlarge its footprint worldwide, and complementary to the group’s current activities.
Source: Pipeline ME
