British-based geotechnical investigation company Seacore is to be bought by Dutch rival Fugro for an undisclosed sum.
Seacore, based in Cornwall in the UK’s southwest, which in the past has provided offshore soil investigations for both oil and gas and renewable energy projects, is to be acquired after a letter of intent was signed between the two companies, Fugro announced today.
Seacore operates a number of its own-designed jackup barges used for offshore and coastal work which has included geotechnical surveys for UK offshore wind farms where it has provided both large diameter drilling and soil surveys. It has also previously worked on projects jointly with Fugro.
The terms of the deal have not been disclosed but last year Seacore had turnover of Euros 35 million. (US $41.75 million).
Subject to due diligence the deal is due to be finalised by early April.
9th March 2006
Thanks for the pointer TrueRed