AQUATERRA ENERGY ACQUIRES SPECIALIST HYDRAULIC SOLUTIONS SUPPLIER
Aquaterra Energy has acquired the business and assets of Hyco Limited, a hydraulic control system supplier, further strengthening its offering to the international offshore oil and gas industry.
As a trusted supply partner for a number of years, Hyco has provided Aquaterra Energy with a range of hydraulic systems which have formed part of the company’s solutions to complex offshore engineering challenges on a variety of projects.
Jim Watters, founding director of Hyco commented: “The Hyco offering has filled a gap in the market for reliable hydraulic solutions, built on extensive technical product knowledge, strong design expertise, innovative thinking and careful product sourcing. We now have a great opportunity to expand the market reach of our products, as part of Aquaterra Energy’s impressive team.”
Aquaterra Energy has a growing reputation as a leading global operation, with highly respected offshore engineering expertise, and an enterprising business strategy and vision. The company secured recognition for its international success with the much coveted Queen’s Award for International Trade in 2009. Integrating Hyco’s technical ability, product knowledge and rapid response capabilities into the Aquaterra Energy service offering, will further enhance the company’s ability to deliver specialist engineering solutions, across a variety of drilling rig and platform requirements.
Patrick Phelan, managing director of Aquaterra Energy, said: “The completion of this acquisition marks an important milestone in our business development strategy, adding even greater depth and strength to our Riser Systems engineering solutions and extending the scope of our Service and Rental business stream.”
In September 2012, Aquaterra Energy launched a new, refined corporate identity which will now be applied across the Hyco business.