MOTIVE Offshore Group, a Scottish specialist in the manufacture and rental of marine equipment, has announced the acquisition for an undisclosed amount of the subsea equipment supplier Flowline Specialists.
The acquisition is the most recent phase in Boyndie-based Motive’s development. The acquisition raises the number of workers to 200, enhances established capabilities in the United Kingdom, Norway and the United Arab Emirates, and extends the company’s presence in Europe further.
Founded in 2001, Flowline, based in Oldmeldrum, designs, engineers and produces its own equipment and offers professional technicians and support services for the offshore energy industry handling and deployment of versatile tubing, umbilicals and cables.
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The acquisition will enable Motive to further implement its strategic market diversification strategy in the offshore wind, energy and utility sectors by introducing current and potential customers with complementary goods, services and expertise.
Dave Acton, Motive’s Managing Director, said, “This achievement has taken three years and is the culmination of a ten-year working relationship in which we have valued Flowline as both a customer and a supplier. We have partnered on a number of projects, which in itself demonstrates the respect we have for the company built by its previous owners.”
“Greg Herrera, senior partner at EV Private Equity, which made a high-profile investment in Motive Offshore Group in 2019, said, “Both Motive and Flowline have risen to the task amid the disruptive circumstances in 2020.
“They have delivered significant growth in 2019, and a combined 2020 revenue of £26 million is based on a razor-sharp focus on maximum service quality, higher ESG performance and lower net customer spend.”
Graeme Chalmers of Flowline said the change “an exciting development for both parties, enabling us to deliver larger projects.”