The group owned by US billionaire Gary Chouest has bought up Aberdeen-headquartered ROVOP, a specialist in remotely operated vehicles (ROVs).
The subsea robotics business was previously controlled by specialist energy private equity firm Bluewater before the Chouest acquisition.
ROVOP chief executive Neil Potter said: “I would like to thank Bluewater for its support over the past seven years, and we’re now looking forward to this next chapter in the ROVOP story.”
The firm said that the deal, which has been signed for an undisclosed sum, will benefit its Aberdeen base while enabling “global growth opportunities.”
© Supplied by YoutubeThe firm says that it will benefit from the support and capabilities of other Chouest companies across the globe.
ROVOP will see support from Chouest group’s vessel-based operations, Caltex Oil Tools, Bram Offshore, and C-Innovation companies.
Recent success for ROVOP
In 2023 ROVOP’s headcount increased by 17% as 38 new hires joined the business to take the total number of employees to 266.
ROVOP has been asked how its acquisition will impact headcount in Aberdeen and across the business.
Last year was positive for ROVOP as it reported £53 million in global revenues, demonstrating a 31% increase year-on-year.
ROVOP also posted earnings before interest, taxes, depreciation and amortisation of £11 million, a 57% uptick from 2022.
In 2023, 25% of total revenue for the firm came from work in the green energy space, including projects such as offshore wind and cable lay.
© Supplied by ROVOPMr Potter commented on the acquisition: “This is a remarkable opportunity for growth, innovation and delivery of even greater value to our clients, bringing a significantly increased fleet of ROVs and an expanded knowledge that our customers will be able to tap into.
“Our specialist teams have helped drive our recent growth and we now look forward to integrating with the Chouest family and leveraging their global resources to enhance our capabilities and expand our reach.”
Earlier this year ROVOP and offshore contractor Boskalis Subsea Services announced a global partnership agreement.
Under this deal, six Boskalis vessels will be provided with dedicated ROV services from ROVOP.
What is the Chouest group?
This acquisition will bring the number of ROVs owned by the Chouest group to over 100, counting those already owned by its other business C-Innovation.
The group also now owns six autonomous underwater vehicles (AUVs) globally.
The Louisiana-based Edison Chouest Offshore family of companies has a hand in shipbuilding, maintenance, and it operates its own fleet.
Edison Chouest Offshore operates a fleet of nearly 300 vessels and has outlined plans to expand. It has 18 shipyards across the globe and has built 1,000 vessels.
© Supplied by RovopUnder the group is the East Lothian-based Marine Procurement Limited which also carries out work in the renewable energies sector.
Dino Chouest of the Chouest family of companies added: “ROVOP has established a reputation for excellence in the ROV industry.
“This acquisition is a key part of our strategy to enhance our integrated subsea services. We are excited to welcome ROVOP’s talented team into our family.
“Their expertise and capabilities are crucial as we expand our portfolio and continue to offer industry-leading solutions to our clients.”
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