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Reef Subsea acquires Rotech Subsea

Reef Subsea AS announced today that it has acquired the subsea division of Rotech Ltd, a group of companies headquartered in Aberdeen, Scotland. With this acquisition, Reef Subsea creates a world leader in seabed dredging and mass flow excavation services with offices in the main subsea markets of the North Sea, Americas and Asia-Pacific.

Stavanger, 11 November 2011

 The combined entity will strengthen the company’s competitive position in higher margin business areas, open new geographic areas and enable further integration of the service offering.

Reef Subsea will now be able to offer its clients in the oil & gas and renewable industries one of the world’s largest capabilities in seabed dredging and excavation services. The acquisition has been part of Reef Subsea initial game plan and is an important milestone in the company’s buy and build plan. The company is also currently working on securing vessel capacity, which is an integrated part of providing high value added services.

Both Scanmudring - based in Norway - and Rotech Subsea - headquartered in Scotland - enjoy leading market positions in their respective niches.  Their combined forces and presence will accelerate their global presence and add value to their clients’ projects. It will also allow them to target tenders which weren’t attainable before thanks to the combined offer of other Reef Subsea companies providing packaged / EPIC capabilities.

The move will also speed up and strengthen Reef Subsea’s presence in key subsea markets thanks to the Rotech Subsea’s existing bases and offices in