Divestiture • Energy Services and Equipment

N-Sea Group Acquires Stork Technical Services - Subsea division

On December 31, 2013, N-Sea Group acquired energy services and equipment company Stork Technical Services - Subsea division from Stork Technical Services

Acquisition Context
  • This is N-Sea Group’s 1st transaction in the Energy Services and Equipment sector.
  • This is N-Sea Group’s 1st transaction in the United States.

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M&A Deal Summary

Date December 31, 2013
Target Stork Technical Services - Subsea division
Sector Energy Services and Equipment
Buyer(s) N-Sea Group
Sellers(s) Stork Technical Services
Deal Type Divestiture

Target Company

Stork Technical Services - Subsea division

United States
Stork is divesting its Subsea division following a strategic review of its core business offering and increasing clients' expectations. The divestment of Subsea will enable Stork to focus on providing key services and innovations which support its significant business operations as an asset lifecycle integrity partner in the oil & gas industry.
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Buyer Overview 1

Buyer

N-Sea Group

Dordrecht, Netherlands

Category Company
Founded 1933
Sector Energy Services and Equipment
DESCRIPTION

N-Sea Group is an integrated subsea service provider offering a comprehensive range of services within the oil and gas, renewable, cable, and dredging industries. N-Sea provides inspection, repair and maintenance (IRM), light construction and surveying services by means of diving activities, in both shallow and deep water, and by means of physical, seismic and acoustic testing and mapping systems and the use of Remotely Operated Vehicles (ROVs). N-Sea Group was founded in 1933 and is based in Dordrecht, Netherlands.


Deal Context for Buyer #
Overall 1 of 1
Sector: Energy Services and Equipment 1 of 1
Type: Divestiture 1 of 1
Country: United States 1 of 1
Year: 2013 1 of 1

Seller Profile 1

SELLER

Stork Technical Services

Aberdeen, United Kingdom

Category Company
Sector Construction
Revenue 300M GBP (2014)
DESCRIPTION

Stork Technical Services (RBG Limited) provides “life of field” services in construction support, fabric maintenance and related services to the international oil, gas & petrochem markets. It is one of the largest independent UK-based oil and gas services companies.


Deal Context for Seller #
Overall 1 of 1
Sector: Energy Services and Equipment 1 of 1
Type: Divestiture 1 of 1
Country: United States 1 of 1
Year: 2013 1 of 1