Posted on 13.07.2010 - 09:00 UTC in ACQUISITION/MERGER NEWS by Rons_ROV_Links
Unique Maritime Group a leading provider of specialist hydrographic and oceanographic equipment rentals, sales, diving equipment, and specialized engineering services, today announced that they have acquired the full share of the Corrintec Division, from its parent Company Cathelco Ltd.
The purchase of Corrintec based in Chesterfield, United Kingdom further enhances the Unique Maritime Group and its subsidiary companies global presence and will introduce an additional component of competency throughout the group. "The combination of Corrintec's expertise with our Global Marketing and sales capabilities will provide our clients with an additional and complimentary service," said Harry Gandhi, CEO of Unique Maritime Group. He further added: "Corrintec have worked to become the recognised world leader in the field of subsea pipeline cathodic protection surveys. We anticipate that as part of Unique Maritime Group, we will be able to further develop and add to that reputation whilst offering our own international customer base the ability to choose a service with an already established quality contractor."
Unique Maritime Group will use both of the Companies existing brand recognition and resources, to continue to provide Subsea Pipeline Cathodic Protection Survey throughout the world, gathering and analysing data to enable clients to make informed decisions on pipeline maintenance.
"The integration of both companies will take place over the next 3 months. Meanwhile, our clients will continue to receive the same high quality services to those which they have come to expect," stated Ray Hughes, Group Managing Director.
Corrintec, which will continue to operate under that name for the transition period, will be renamed to Unique Corrintec, now a wholly owned subsidiary of the Unique Maritime Group of Companies.
The acquisition of Corrintec was accomplished through an exclusive negotiation process under the guidance of Pinsent & Masons as legal advisors. The terms of the agreement are held as confidential.