Offshore energy infrastructure service provider Acteon Group has been bought by private equity investors Buckthorn Partners and One Equity Partners (OEP).
The Norwich based business specialises in data and robotics, engineering, mooring and foundations, and energy services. Established in 1989, the business now employs 2,300 staff and operates from 58 locations across 14 countries worldwide.
Acteon has said that Buckthorn and OEP are making a substantial investment in the business to improve its standing with suppliers and customers. The investment will further enable it to compete “even more strongly” in its core markets.
The investors’ focus will be on developing Acteon’s capabilities across survey, foundations, moorings, decommissioning and consulting engineering services that support and differentiate the business in the offshore renewable, and offshore oil and gas market sectors.
Brice Bouffard has been appointed as chief executive officer of Acteon. He was most recently chairman of Scottish drilling technology firm Coretrax.
Buckthorn partner Rob Willings said: “Acteon’s products and services are key to the energy transition in constructing, maintaining and supporting offshore energy infrastructure. We are very pleased to acquire Acteon and its market-leading capability in managing offshore renewable, and offshore oil and gas infrastructure. Our ownership will bring stability to the business, and investment and expertise to grow and develop the company.”
Earlier this year, Acteon won a contract to provide subsea balance of plant operations and maintenance services to the Butendiek offshore wind farm in German waters of the North Sea.
Acteon is structured into three divisions with brands sitting in segments and business units.
Its geo-services unit comprises Benthic, a US-based offshore marine geotechnical and geophysical survey company that was acquired by Acteon in 2019.
It also owns geo-services companies Terrasound and Utec, and marine foundations company Menck.