Aker Solutions has completed the acquisition of oil-services provider Reinertsen, building on its position in the maintenance and modifications market.
The agreement to buy Reinertsen’s Norwegian oil and gas services business has also been cleared by Norway’s competition authority.
Reinertsen, the third-largest maintenance and modifications supplier offshore Norway with about 700 employees, has its main offices in Trondheim and Bergen.
The company’s order backlog contains key maintenance and modifications contracts with Statoil, including a minimum six-year framework agreement awarded in December 2015. It also has some smaller subsea services and engineering contracts.
Reinertsen employees in Trondheim and Bergen will be moved to local Aker Solutions offices as part of synergies to be generated.
The purchase price is NOK 212.5 million ($25 million).