First Marine Solutions (FMS) has confirmed the acquisition of Aberdeen-based Andrews Hydrographics (Andrews Survey) for an undisclosed sum.
The acquisition is the latest development in the FMS growth strategy, which has seen the company evolve significantly over recent years to become the offshore market’s leading provider of integrated marine solutions.
Set to double the FMS headcount to 130 and result in a combined annual turnover of approximately £40million, the purchase of Andrews Survey has been described by FMS Managing Director, Steven Brown, as bringing 'greater depth and capability to our existing Survey & Positioning business unit, which has grown significantly over the last five years since its inception.'
He continues: 'Global market dynamics in the subsea construction sector look particularly strong for the foreseeable future and so it is a logical move to further enable our already robust Survey & Positioning service line with the acquisition of a company as experienced and well-respected as Andrews Survey. We will look to invest further in both personnel and assets, developing this service within our already rapidly-growing FMS business.'
Andy Dare, Managing Director of Andrews Survey adds: 'With almost five decades of industry experience to its name, Andrews Survey’s international track record in delivering exceptional survey services has safety, innovation and efficiency at its core. These standards align with the FMS ethos and we look forward to the development of our joint service line, as together we continue to serve the international offshore energy sector.'
First Marine Solutions is part of the First Tech Group which recently announced record turnover and profitability.
Source: First Marine Solutions
