US company Actuant Corporation has signed a definitive agreement to acquire Aberdeen-based offshore support
specialist Viking SeaTech in a US $225 million deal, with the purchase subject to customary regulatory approvals and closing conditions. It is expected to be completed within 45 days. The $225 million purchase price will be funded from the company’s cash and revolving credit facility, and excludes potential future performance related consideration. Viking generated approximately $90 million in revenue in the past 12 months, said Actuant. The majority of Viking’s revenue comes from offshore vessel mooring solutions.

Offshore