Proserv acquires Nautronix

Aberdeen acoustics pioneer sold to US-owned firm

NautronixAberdeen company Nautronix, operating in subsea acoustics has been acquired by energy services business Proserv for an undisclosed sum.

Nautronix, which moved to Scotland from Australia 12 years ago, operates in the supply of subsea digital acoustic communication products and positioning services to the  oil and gas industry.

It employs 120 staff in offices in Aberdeen and is internationally recognised for its technology. Proserv, also based in Aberdeen, is a portfolio company of Riverstone Holdings, an energy-focused private equity firm based in New York.

The transaction will see Nautronix chief executive Mark Patterson join Proserv.

David Lamont, Proserv’s chief executive, said: “I am thrilled to welcome the Nautronix team to Proserv. 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.

“Individually, the two companies have been doing well in these more demanding times; together, however, we are much stronger, bringing a combined technology platform that is both unique and of great potential to deliver truly game changing solutions to our customers to meet the challenges and more importantly deliver the opportunities facing the industry today and in the future.”

Mr Patterson said: “It was important for us to find the right company to partner with and we are delighted that it’s Proserv. 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. We relish joining David and the Proserv team in building what we feel will be a compelling service offering, particularly with the significant cost savings and life-of-field benefits our products and services can bring within an increasingly challenging market.”

Photo: David Lamont (left) and Mark Patterson join forces through acquisition

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