Energy services company Proserv has acquired Nautronix – the Aberdeen-based subsea digital acoustic communication products and positioning supplier.
Employing 120 people, Nautronix is headquartered in Aberdeen where the main research and development, and manufacturing facilities are located.
Nautronix chief operating officer Mark Patterson joining Proserv as part of the deal.
David Lamont, Chief Executive, Proserv, said: “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. “
Proserv is a portfolio company of Riverstone Holdings LLC, an energy-focused private equity firm based in New York.