Fleet boost

US group swoops on Aberdeenshire subsea firm

Neil Potter: remarkable opportunity

ROVOP, an Aberdeen-based provider of remotely operated vehicles, has been acquired by US offshore services conglomerate Edison Chouest.

Alongside its subsea service company, C-Innovation, Chouest will now control a fleet of over 100 ROVs and six autonomous underwater vehicles.

Neil Potter, CEO of ROVOP, said: “This is a remarkable opportunity for growth, innovation and delivery of even greater value to our clients, bringing a significantly increased fleet of ROVs and an expanded knowledge that our customers will be able to tap into.

“Our specialist teams have helped drive our recent growth and we now look forward to integrating with the Chouest family and leveraging their global resources to enhance our capabilities and expand our reach.”

ROVOP was previously backed by specialist energy private equity firm Bluewater which invested in 2017 through its second fund, significantly enhancing the company’s international presence and its operations in low-carbon industries.  

In 2020 Bluewater invested further in the business alongside then-part-owners BGF to secure the long-term future of the business.

For the fiscal year ending 31 March 2023, ROVOP reported a 31% increase in revenue to £53 million, and was expected to report continued growth in the following year. 

Chouest owner executive Dino Chouest. “This acquisition is a key part of our strategy to enhance our integrated subsea services. We are excited to welcome ROVOP’s talented team into our family. Their expertise and capabilities are crucial as we expand our portfolio and continue to offer industry-leading solutions to our clients.”

The integration of ROVOP into Chouest’s operations will begin immediately, with full integration expected to enhance service delivery and operational efficiency across all entities involved.

Martin Somerville, MD at Bluewater said: “We wish ROVOP and its employees all the very best under their new ownership. We also congratulate Neil Potter, Graeme Park and Maurice McBride on their excellent efforts to rebuild and substantially grow the business since 2020, delivering a very strong return for all stakeholders.” 

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