Aberdeen-based marine solutions provider First Marine Solutions (FMS) has acquired fellow Aberdonian firm Andrews Hydrographics (Andrews Survey) for an undisclosed sum.
The move is set to double FMS’ headcount to 130 and result in a combined annual turnover of approximately £40 million.
FMS managing director Steven Brown said the purchase brings “greater depth and capability to our existing survey and positioning business unit, which has grown significantly over the last five years since its inception”.
He added that global market dynamics in the subsea construction sector look strong for the foreseeable future, “and so it is a logical move to further enable our already robust survey and positioning service line with the acquisition of a company as experienced and well-respected as Andrews Survey.
“We will look to invest further in both personnel and assets, developing this service line within our already rapidly growing FMS business.”
FMS is part of the First Tech Group, which recently announced record turnover and profitability.
The acquisition is the latest development in the FMS growth strategy, which has seen the company evolve significantly over recent years.
The company saw its workforce grow in 2023 from 140 to 250. That period was also hailed as its “best ever year”, with turnover nearly doubling from £23.8m to £45.5m.
First Tech acquired North Sea Compactors in 2023, saying that it planned to use inorganic growth through acquisitions to continue driving its performance.
FMS scored a contract win last year when BlueFloat Energy and Nadara chose it to support their upcoming floating offshore wind projects.
In addition, the group extended its partnership with Montrose Port Authority with a five-year lease agreement.
Andrews Survey managing director Andy Dare added: “With almost five decades of industry experience to its name, Andrews Survey’s international track record in delivering exceptional survey services has safety, innovation and efficiency at its core.
“These standards align with the FMS ethos, and we look forward to the development of our joint service line, as together we continue to serve the international offshore energy sector.”
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