Oceanteam and Royal IHC have signed a deal under which IHC will acquire all of the outstanding share capital of Oceanteam’s Dutch based KCI the Engineers B.V.
The transaction is not subject to regulatory approval.
IHC plans to maintain KCI as an independent brand and operating company which will continue to serve external clients whilst also working on IHC projects.
Oceanteam will continue to have access to all intellectual property built up over the years in relation to Oceanteam’s vessels, carousels and other assets.
Furthermore, Oceanteam continues to have access to KCI’s engineering capabilities through a long term Service Level Agreement (SLA) between IHC and Oceanteam.
Diederik van Rijn, IHC Group executive director said: “The acquisition of KCI fits within the overall strategy of IHC to further develop into a provider of knowledge and technology based services and products. We believe that KCI, with IHC as a strong reliable parent, will be able to further develop and grow to the benefit of its clients. We are also delighted to continue to provide engineering services to Oceanteam in the future.”
Haico Halbesma, CEO of Oceanteam added: “IHC presented a strategy that fits with the next step KCI has to take in terms of further expanding its unique designs and credentials list to become an even stronger partner for its clients. It also emphasizes the confidence in the engineering capabilities and idea realization skills of the KCI team.”
Oceanteam will use the proceeds of the sale to improve the company’s liquidity and to reduce outstanding debts.