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ATR Group has completed its first strategic acquisition following its recent MBO supported by NBGI Private Equity.
The acquisition of Underwater Engineering Services (UES) strengthens ATR Group's existing subsea capabilities and demonstrates the group's commitment to investing in this dynamic, fast growing market.
UES specializes in the rental and supply of marine and subsea support equipment to the diving, ROV and survey sectors of the global offshore industry.
The company provides diver and ROV operated tooling as well as fully integrated packages, comprising deck cranes, winches, power packs, survey and deployment equipment.
The company, which was established in 2006, is based in Foveran, on the outskirts of Aberdeen.
Jeff Riddoch, managing director of UES will continue to lead the business along with his current team.
Keith Moorhouse, chief executive of ATR Group, said, "ATR Group is performing strongly and we have identified the subsea market as a key strategic area for many of our customers. We intend to invest substantially in UES for growth without losing its core focus and specialty. It's about responding to customer needs and continuing to deliver."