Offshore energy services provider Acteon Group has been acquired by private equity investors Buckthorn Partners and One Equity Partners (OEP).
The two private equity firms did not disclose the value of the deal for Acteon Group, which includes more than 15 companies operating in the offshore renewables, oil and gas, and decommissioning sectors.
The Norwich-based firm maintains a significant presence in the North East of Scotland through an operational base in Aberdeen.
Acteon Group companies operating in Aberdeen include J2 Subsea, Seatronics, UTEC, Claxton, 2H Offshore and Bruce Anchor.
In total, the company employs 2,300 staff in 58 locations across 14 countries.
Acteon Group acquisition
Acteon said Buckthorn and OEP will make a “substantial investment” in the business to improve its standing with suppliers and enable it to be more competitive in its core markets.
The company will appoint former Fugro board member and Coretrax chairman Brice Bouffard as its new chief executive officer.
Partner at Buckthorn Rob Willings said the new Acteon ownership will bring stability to the business, as well as investment and expertise to grow and develop the company.
“Acteon’s products and services are key to the energy transition in constructing, maintaining and supporting offshore energy infrastructure,” Mr Willings said.
“We are very pleased to acquire Acteon and its market-leading capability in managing offshore renewable, and offshore oil and gas infrastructure.”
Buckthorn has made several acquisitions across North East energy sector in recent years.
In 2017, the private equity investor jointly acquired Westhill-based subsea equipment firm Ashtead Technology.
A few months later, Buckthorn acquired Aberdeen-based integrated drilling waste and environmental services company TWMA.
A year later, Buckthorn became the majority shareholder in Aberdeen-headquartered oilfield services firm Coretrax.
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