Acteon Group (company)

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Acteon Group
Private limited (Non-trading)
Industry Subsea Services
Founded Norwich (2004)
Headquarters Norwich, England, United Kingdom
Area served
Global
Key people
Richard Higham, Group Chief Executive
Revenue £310,860,000
Number of employees
1538
Website acteon.com

Acteon is a specialist subsea services company. Acteon Group Ltd is registered in England,[1] with its headquarters in Norwich.

The Acteon Group is one of the largest firms in East Anglia,[2] comprising 17 companies that provide integrated subsea services, mainly to the oil, gas and renewables industries, with particular focus on foundations and moorings; risers, conductors and flowlines; Marine electronics, instrumentation and surveys; and activity management and manpower provision. Acteon provides seabed-to-surface equipment, technologies and services and is represented at every stage in the life of an oilfield.[3]

History[edit]

Acteon was formed in 2004 from the UWG Group which at that time comprised five individual companies: UWG, Claxton, MENCK, 2H and TEAM. Since then, Acteon has expanded through organic growth and the acquisition of companies that offer complementary services in the subsea services arena. These acquisitions have extended Acteon’s technical capabilities, product lines and worldwide geographic reach.

There have been several significant acquisitions:

  • In 2004, Acteon acquired the business and assets of Technip Offshore Moorings, Inc. to create a new company called InterMoor Inc.[4]
  • In 2006, Acteon acquired Trident Offshore Inc.[5] and Aquatic Engineering and Construction Ltd.[6]
  • In 2007, Acteon completed the acquisition of three companies from the Craig Group: Seatronics Ltd, International Mooring Systems Ltd (IMS) and Chain Corporation International Ltd (ChainCo).[7] The same year saw the merger of TEAM Energy Resources Ltd with the manpower services arm of Aquatic.
  • In 2008, Acteon acquired the Singapore-based CAPE Group[8] and 80% of Brazilian mooring and anchoring equipment specialist Fluke Engenharia Ltda.[9]
  • In June 2011, Acteon acquired the offshore survey and positioning specialist NCS Survey Ltd.[10]

In 2010, despite a global drop in activity levels after the Deepwater Horizon oil spill, the Acteon Group posted accounts showing an 8% increase in revenue and a growth in profit from £32.13million to £36.24million.[11]

Acteon's aim is to define, shape and lead the subsea market by delivering a comprehensive range of integrated products and services. Acteon has been recognised for its business growth,[12] and companies within it have won awards for innovation[13] and achieving notable technical successes.[14]

Acteon companies operate from the world's major offshore oil and gas centres and are involved in projects in many exploration and production areas.

Acteon brings together companies that possess complementary technologies and capabilities, provide products and services in similar areas, and serve the same international customer base. These companies are 2H Offshore, Aquatic, CAPE, CIS, Claxton, Fluke, InterAct, InterMoor, LDD, MENCK, Mirage, NCS Survey, OIS, Pulse Structural Monitoring, Seatronics, SRP and TEAM

In October 2012, Acteon Group announced a change of ownership; the group's majority interest was acquired by the management team of Kohlberg Kravis Roberts.[15]

See also[edit]

References[edit]

  1. ^ "Home". Official website. Norwich: Acteon Group Ltd. Retrieved 15 May 2013. Acteon Group Ltd is registered in England, number 4231212 
  2. ^ Eastern Daily Press – Top 75 Companies, 2011, retrieved 5 September 2011 
  3. ^ Acteon launches today revealing ambitious expansion plans, 2011, retrieved 16 August 2011 
  4. ^ ACTEON, FORMERLY UWG GROUP, ACQUIRES THE BUSINESS AND ASSETS OF TECHNIP OFFSHORE MOORINGS INC TO SUPPORT ITS AMBITIOUS GROWTH PLANS (PDF), archived from the original (pdf) on 30 March 2012, retrieved 18 May 2013 
  5. ^ Acteon reinforces its global foundations and moorings business with the addition, 2011, retrieved 16 August 2011 
  6. ^ Acteon purchases Aquatic Engineering and Construction, 2011, retrieved 16 August 2011 
  7. ^ Strategic acquisitions further strengthen Acteon s hand, 2011, retrieved 12 August 2011 
  8. ^ Latest acquisition boosts presence in important Asia Pacific markets, 2011, retrieved 13 August 2011 
  9. ^ Britain's Top 100 Entrepreneurs 2010: The Big Winners, 2011, retrieved 13 August 2011 
  10. ^ Acteon Concludes Acquisition of NCS Survey, 2011, retrieved 15 August 2011 
  11. ^ Acteon defies slump in US gulf after spill, 2011, retrieved 5 September 2011 
  12. ^ Previous Fast Track 100 award winners, 2011, archived from the original on 6 July 2011, retrieved 8 August 2011 
  13. ^ Pioneering drilling riser wins EEEGR award, 2011, retrieved 8 August 2011 
  14. ^ Hosking, Patrick; Thompson, Susan (2011), The Times Business – Acteon profile page, London, retrieved 8 August 2011 
  15. ^ PYMNTS (1 October 2012). "Acteon Group announces change in ownership: First Reserve Corporation Sells Majority Interest in Acteon to KKR". PYMNTS. [permanent dead link]

External links[edit]