Proserv Group acquires Nautronix
ABERDEEN, United Kingdom -- Proserv Group LLC has acquired Nautronix, a leader in the supply of subsea digital acoustic communication products and positioning services to the oil and gas industry. Proserv is a portfolio company of Riverstone Holdings LLC, an energy-focused private equity firm based in New York.
Employing 120 people, Nautronix is headquartered in Aberdeen where the main research and development, and manufacturing facilities are located. The company is internationally recognized for its through-water digital acoustic wireless communications and positioning systems, diver communications and vessel systems while also providing survey services. The technology focussed organization, which operates across the global subsea sector, provides a range of products and services including NASNet, NASCoM, NASDrill, NASDive and Survey Services.
The transaction, which includes Nautronix's Mark Patterson joining Proserv, heightens Proserv’s position as a leading player in the controls and communications market and presents the company with the opportunity to expand its offering by providing fully integrated subsea controls, communications, positioning and survey services.
David Lamont, Proserv’s CEO, said, “We have been working together on bringing the two companies together for over a year, and while times in our industry are challenging, the rationale and benefits to all stakeholders including employees, shareholders and our clients remain as strong, if not stronger, than ever."
“I am also excited to have Mark join the senior management team at Proserv. Mark will lead the Nautronix team through the transition and integration process as well as assuming his senior global position as head of strategy and new ventures for the Proserv Group," he added.
Mark Patterson, CEO of Nautronix, added, “Strategically, this is a fantastic opportunity for Nautronix as we can leverage from the increased exposure globally. That, combined with our considerable experience in the drilling, subsea and survey market, presents us with considerable opportunities going forward.”
