Blue Water Energy Buys Pipeline Welding Specialist

London-based private equity firm Blue Water Energy has acquired Pipeline Technique Limited (PTL), a provider of pipeline welding, field joint coating and spoolbase services to the energy industry, from Heerema Marine Contractors (HMC).

PTL is headquartered in Huntly, UK with additional worksites in the USA, Middle East, Brazil and South East Asia.

PTL has built a track record in the delivery of technically challenging solutions for offshore and onshore construction projects, ranging from ultra-deepwater and ultra-heavy wall thickness to fatigue sensitive pipelines.

The company has established relationships with the energy industry’s leading players and construction groups, having performed welding and coating services on major projects such as Appomattox (Gulf of Mexico), Kaombo (Angola) and Khazzan (Oman).

Martin Somerville, managing director of Blue Water Energy, said: “We are excited by the investment into PTL. The company has a very strong reputation and track record in the technically-challenging pipeline welding market and we have committed significant capital to support future growth.”

Patrick Boerkamp, CEO of PTL, said: “HMC has been a good owner of PTL since 2008 and supported us to build an impressive track record and develop new technologies and services tailored to offshore and onshore markets.

“We now look forward to the company flourishing as an independent welding and field joint coating service provider, capitalising on the significant market opportunity that exists.”

Pipeline Technique is the seventh investment in Blue Water Energy’s Fund II. Other companies include Aberdeen-based Rovop, the subsea robotics company, and Mime Petroleum, the Oslo-based NCS explorer.

Share this article

Follow Subsea World News


<< Aug 2019 >>
29 30 31 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

Submarine Networks World 2019

As the key annual gathering for decision makers in the subsea communications value chain, they offer a dedicated platform…

read more >

8th International Conference 2019 Offshore Wind Power Substations

The International Conference Offshore Wind Power Substations is a technical event for experts in the wind industry.

read more >

Wind Turbine Towers

Wind Turbine Towers is a technical event for experts in the wind industry and the goal is to push forward technical development for future tower concepts.

read more >

Seatrade Europe 2019

The three day event will  take place in the hub of the European cruise industry, Hamburg; Germany…

read more >