Aker snaps up Norwegian subsea companies

Subsea sale: Aker Solutions acquires state-of-the-art testing facility

Subsea House

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Bill Lehane

 17 July 2012 10:22 GMT

Norway's Aker Solutions has acquired two compatriot subsea contractors, Subsea House and SSH Engineering, in a deal that includes a state-of-the-art subsea facility southwest of Oslo.

The two companies, both owned by Subsea Holding, developed the testing and design centre for subea tools and products in Stokke, Vestfold county in 2007.

Aker Solutions has said it plans to double revenues of the two companies and to recruit 50 to 100 new staff over the next two years at the Stokke site, where the pair of companies employs around 40 workers.

The acquisition, a value for which was not disclosed, is expected to be completed in the third quarter subject to competition authority approval. 

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