Norwegian cable protection system provider acquired by UK outfit
UK outfit Balmoral Offshore Engineering has acquired Norwegian cable protection system provider Seaproof Solutions for an undisclosed price to boost expansion into the offshore renewables market.
Seaproof's current management team and 37-strong workforce will be retained under the terms of the deal.
The company will also continue to operate under the Seaproof name as a division of Balmoral.
Balmoral financial director Bill Main (pictured, right) said: “This timely acquisition will help our drive into the developing renewables sector.
“The combination of Balmoral’s innovation and processing expertise with Seaproof’s considerable market presence presents a compelling offering.”
Seaproof founder and chief executive Henrik Bang-Andreasen (pictured, left) said: “We look forward to harnessing Balmoral’s undoubted engineering expertise and experience.
“The move opens up significant potential in the UK market for Seaproof, something we are very keen to develop.”
Image: Balmoral Group