Helix Energy Solutions Group Acquires Control of Aberdeen-Based Subsea Technologies Group Limited

Posted on 17 June 2019

Helix Energy Solutions Group, Inc. (NYSE: HLX) has acquired a majority stake in Subsea Technologies Group Limited (STL), an Aberdeen-based subsea engineering company that specializes in the design and manufacture of world-class subsea pressure control equipment, including well intervention, well control and subsea control systems. Terms of the acquisition were not disclosed.

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Scotty Sparks, Executive Vice President and Chief Operating Officer of Helix, stated “This acquisition provides Helix with a significant opportunity to offer in-house engineering services, product development and systems engineering, whilst also enabling us to accelerate the development of new well intervention technologies and provide an enhanced product and service offering.”

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Drummond Lawson, co-founder and Chief Executive Officer of STL, added “We are excited about the acquisition, as joining Helix represents opportunities for company growth and to strengthen our capabilities, products and service offerings. STL will continue to provide industry leading service to our clients, and we look forward to engaging existing and new clients alike in those opportunities.”

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Going forward STL will operate from Helix’s offices in Aberdeen, and Lawson, along with Chief Technical Officer Dave McKay, will continue in their current roles.

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About Helix

Helix Energy Solutions Group, Inc., headquartered in Houston, Texas, is an international offshore energy services company that provides specialty services to the offshore energy industry, with a focus on well intervention and robotics operations.

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About STL

Subsea Technologies Ltd, based in Aberdeen, United Kingdom, is a subsea pressure equipment specialist company that designs and manufactures a range of class-leading proprietary subsea products, and develops equipment tailored to meet specific subsea engineering challenges.

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