Tritech International Limited, part of Halma Group plc have announced the acquisition of Beverley-based SRD (Sonar Research & Development Limited), which specialises in the design, development and manufacture of innovative multibeam systems for use within the oil & gas industry and other subsea applications.
The acquisition is viewed as an opportunity for the Halma Group to establish a strong presence in the supply of monitoring, survey and construction support services to the offshore industry, whilst introducing SRD's unique products to a wider market.
Not only does Tritech's worldwide distribution network offer new opportunities for SRD's range of hydrographic and specialised survey systems, SRD's unique multibeam technology will also complement Tritech's range of world-class ROV and AUV sonar systems.
With a track record of developing innovative products, Tritech's product range will benefit from SRD's leading edge solid state technology. The companies will offer more product options to meet the increasing challenges offshore. The ROV / AUV sector, bathymetric survey and specialised construction applications will all benefit from the merger of these two UK businesses.
Brian Bullock, Managing Director of SRD believes that the acquisition is right for the company at a time when it is seeking much wider access to world markets:
"The benefit of Tritech International's worldwide marketing and distribution network brings the SRD range of products and survey services to a much broader range of customers. Tritech will also benefit from SRD's innovative technology in some of its future products. We are very pleased to be part of a much larger organisation and in particular to be part of the Tritech Group; the complementary nature of the two companies will benefit everyone and gives SRD considerable opportunities for growth. I am looking forward to working with Tritech and the Halma Group developing the exciting opportunities ahead".
Richard Marsh, Managing Director of Tritech International is equally positive:
"The addition of SRD into the Tritech Group of companies is a very positive step and gives Tritech access to SRD's solid state multibeam technology" he said. "I am very excited at the prospect of harnessing SRD's technology and developing a wider range of products and services as a result. SRD will continue to offer their specialised survey services, which will now be more accessible to a wider subsea audience through Tritech's international distribution network. We anticipate making further acquisitions to continue to broaden our capabilities to create a dynamic and powerful force in the subsea acoustic market."