ATR Expands Subsea Offering Through Acquisition

NBGI Private Equity has supported oil and gas equipment services specialist ATR Group in its first strategic acquisition following its MBO. Lawrence Dean led the transaction for NBGI Private Equity, supported by Rupert Brown, working closely with ATR Group CEO Keith Moorhouse and CFO Euan Leask.

PRESS RELEASE

NBGI Private Equity has supported oil and gas equipment services specialist ATR Group in its first strategic acquisition following its recent MBO. The acquisition of Underwater Engineering Services (“UES”) strengthens ATR’s existing subsea capabilities and demonstrates the Group’s commitment to developing an integrated surface to subsea rental and services model.

UES specialises in the rental and supply of marine and subsea support equipment to the Diving, ROV (“Remotely Operated Vehicles”) and survey sectors of the global offshore industry. The company provides both Diver and ROV operated tooling as well as fully integrated packages, comprising deck cranes, winches, power packs, survey and deployment equipment. Aberdeen-based UES has a market leading reputation for the quality of its subsea engineering, design and manufacturing capabilities.

ATR has performed strongly since its buyout in Q1 2012, delivering strong organic growth through new customer wins and by developing the breadth of its value proposition. Together with the contribution from this first add-on acquisition, the Group is on track to show a substantial uplift in profits in the first year of investment.

Lawrence Dean led the transaction for NBGI Private Equity, supported by Rupert Brown, working closely with ATR Group CEO Keith Moorhouse and CFO Euan Leask.

Contact:

Lawrence Dean
Investment Director

020 7661 5650
ldean@nbgipe.co.uk