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Investment in ROV company

Alchemy helps M2 Subsea buy vehicles

mike-arnoldA recently-formed subsea services business has secured an undisclosed injection of private equity investment to acquire a fleet of 32 remotely operated vehicles (ROV).

A fund advised by Alchemy Special Opportunities is providing capital for Aberdeen and Houston based M² Subsea. 

The company, founded by Mike Arnold, is expected to become one of the largest independent providers of ROV services globally. 

It will create at least 50 onshore and 100 offshore jobs operating primarily in the North Sea, Gulf of Mexico, West Africa and eventually Asia Pacific and the Middle-East by the end of next year.  

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