Newly Established M² Subsea Acquires ROV Fleet

A recently formed subsea services business, M² Subsea Limited, has secured a substantial injection of private equity investment to acquire a fleet of 32 remotely operated vehicles (ROVs).

Aberdeen and Houston based company has attracted the investment from a fund advised by Alchemy Special Opportunities.

The M² Subsea expects to create at least 50 onshore and 100 offshore jobs operating primarily in the North Sea, Gulf of Mexico, West Africa and eventually Asia Pacific and the Middle-East by the end of 2017, the company said.

thumbnail_mike-arnold-1Mike Arnold, who’s heading up the business, said: “The time is absolutely right for a new ROV services provider with a fresh approach that can, through experience, expertise, the correct asset base and lean management, dramatically reduce both cost and risk whilst continuing to provide a professional and quality service. Key to this will be the company’s collaboration with vessel owners and operators, helping them to maximize utilization of vessels and offering competitive solutions to meet our clients’ demands.”

Share this article

Follow Subsea World News

Events>

<< May 2017 >>
MTWTFSS
1 2 3 4 5 6 7
8 9 10 11 12 13 14
15 16 17 18 19 20 21
22 23 24 25 26 27 28
29 30 31 1 2 3 4

IADC World Drilling 2017 Conference & Exhibition

This event showcases products like Cutting edge, drilling technology, well control, health, safety, environment, training and environment industry…

read more >

Decom Offshore 2017

Decom Offshore 2017 is expected to bring together a global audience of over 400 key representatives from the late life and decommissioning…

read more >

IMCA ROV SEMINAR

This seminar is designed to assist IMCA members in dealing with these, with a programme of technical and operational topics affecting…

read more >

Offshore Wind Energy 2017

In 2017, EWEA and RenewableUK will join forces to bring you the greatest conference and exhibition Europe has ever known in the history…

read more >