Private equity investors One Equity Partners and Buckthorn Partners acquired offshore energy infrastructure player Acteon Group Ltd., the companies announced March 27.
U.K.-based Acteon Group provides specialist engineering, technology applications and other services to customers in offshore oil, gas and renewables. The firm was founded in 1989 and employs 2,300 staff from 58 locations around the globe, according to a news release.
Buckthorn Partners and One Equity Partners (OEP) “are making a substantial investment” to enable Acteon to compete more strongly in its core markets, the companies said. Financial terms of the acquisition were not disclosed.
Buckthorn and OEP will focus on building out Acteon’s capabilities in survey, foundations, moorings, decommissioning and consulting engineering services.
In conjunction with the acquisition, Brice Bouffard was appointed as CEO of Acteon.
OEP is leading the transaction, in which Buckthorn is partnering as a co-investor, according to an OEP press release.
“We are pleased to have One Equity Partners as our investment partner to help us capture the significant opportunity to grow in our target markets,” Bouffard said in OEP’s release. “OEP’s deep industrial expertise will be invaluable to us as we engage in initiatives that will increase operational efficiencies, develop more advanced services for our customers, and make us a stronger competitor in our core products and service areas.”
Recommended Reading
Exclusive: Can NatGas Save the 'Fragile' Electric Grid?
2024-02-28 - John Harpole, the founder and president of Mercator Energy, says he is concerned about meeting peak electric demand and if investors will hesitate on making LNG export facilities investment decisions after the Biden administration's recent LNG pause, in this Hart Energy LIVE Exclusive interview.
Exclusive: Adkins on Challenged Gas Prices, Growing Crude Demand
2024-05-15 - J. Marshall Adkins, head of energy investment banking at Raymond James, details the future of natural gas prices and misconceptions about crude demand coming to an end in this Hart Energy Exclusive interview.
Exclusive: Chevron Balancing Low Carbon Intensity, Global Oil, Gas Needs
2024-03-28 - Colin Parfitt, president of midstream at Chevron, discusses how the company continues to grow its traditional oil and gas business while focusing on growing its new energies production, in this Hart Energy Exclusive interview.
Exclusive: Despite Uncertainty, NatGas Balances Out
2024-03-04 - McKinsey and Co.'s Luciano Di Fiori says the natural gas market is capable of balancing itself out—despite LNG permit approval pauses, midstream constraints and dependence on oil production—in this Hart Energy LIVE Exclusive interview with Editorial Director Jordan Blum.
Exclusive: Renewables Won't Promise Affordable Security without NatGas
2024-03-25 - Greg Ebel, president and CEO of midstream company Enbridge, says renewables needs backing from natural gas to create a "nice foundation" for affordable and sustainable industrial growth, in this Hart Energy Exclusive interview.