General – Acquisition
Motive Offshore Group recently announced the acquisition of Aquatic, a global leader in laying and retrieving flexible products from the seabed, previously owned by marine energy and infrastructure services company Acteon.
The deal will increase Motive’s rental fleet and provide a full back-deck offering globally.
Motive will undertake Aquatic’s operations in the UK, Singapore, the US, Australia, and Norway, marking a significant milestone in its global growth strategy.
The deal, in response to burgeoning market demand, will provide customers with access to a wider range of flex lay equipment for offshore telecoms, offshore wind farms, and oil and gas fields.
Bolstered by investment from H2 Equity Partners in 2022, the acquisition aligns with Motive’s continued ambitions to target strategic locations, diversify its rental fleet, and generate 75% of revenue from renewables by 2025.
As part of the agreement, Motive will also acquire and invest in Aquatic’s facility in Peterhead, Scotland. The hub will become an additional base in Scotland for Motive, alongside its Boyndie and Kintore facilities.
