ONE of Ross-shire’s major employers has unveiled another business acquisition which it says will further strengthen its position and dramatically reduce costs during the oil and gas downturn.
Global Energy Group has acquired the subsea technology company, Geo Oceans, which is based in Perth, Australia.
Specialising in micro ROV (Remotely Operated Vehicle) technology, the firm’s equipment can help slash some of the costs associated with diving-related work.
Geo Oceans is an innovator of cost-efficient micro ROV technology used in marine inspection and survey tasks.
It has worked closely with Perth-based Global Energy Group company, Vertech, on a number of projects and recently representatives of both companies travelled to the United States to meet with several organisations to discuss upcoming projects.
Global Energy Group chief executive, Iain MacGregor, said: "Geo Oceans is an industry-leader and innovator in its field. Additionally, it is a company we admire and have collaborated with in the past, so it is an excellent addition to the Group.
"Geo Ocean’s positioning at the cutting-edge of micro ROV technology not only enhances our marine and subsea credentials but will also allow us to bring cost efficiencies to our clients in the North Sea oil and gas industry at a time when they need it most.
"On some projects micro ROV works have shown a 70 per cent reduction in costs compared to conventional methods of diving. The acquisition will also aid Geo Ocean’s expansion and bolster Global Energy’s competencies in growth areas of our diversified business such as renewables and utilities."
Post-acquisition Geo Oceans will retain its entire workforce and continue to be headed-up by existing managing director, Ben Brayford.
Brayford said: "Global Energy Group’s acquisition of Geo Oceans sees two industry-leading companies join forces.
"With a truly international reach, being part of the GE Group will facilitate the export of our Western Australia-based company’s capabilities to markets beyond Australasia at a time when a number of innovations are seeing our ROV technology get ever smaller, more powerful and cost-effective."