Proserv Restructures
Controls technology company Proserv announced it has established two separate divisions as part of a corporate restructure plan.The Aberdeen based firm was recapitalized by its new majority shareholders, Oaktree Capital Management and KKR, early in 2018, and Proserv’s senior management team has spent the last 12 months drawing up a detailed strategic plan and technology roadmap for the next five years.The new separate divisions, Proserv Controls and Gilmore, a Proserv Company, will sit under the umbrella of the parent company, Proserv Group, commonly known as Proserv, the company said on Tuesday.
Harkand North America Salvaged by MBO
company, to be named ETHOS OFFSHORE LIMITED, will continue to provide subsea engineering and construction services to Harkand’s existing US, Mexican and West African client base to market-leading standards. The new company, backed by investment funds advised and managed by Oaktree Capital Management, L.P. (“Oaktree”), is expected to have a contracted backlog of $145 million worth of projects. The move also could potentially safeguard more than 100 jobs across North America, Africa and Mexico. The MBO has ensured that Ethos Offshore is able to deliver the full scope
Oaktree Capital Pumps $25 mln into Harkand
Harkand's key shareholder Oaktree Capital Management has reaffirmed a strong commitment with an additional $25 million of funding which will allow the company to expand its footprint in new and existing regions. As well as maintaining its operations in current market conditions, the global inspection, repair and maintenance company has recently been awarded three major frame agreements taking them into West Africa and Mexico for the first time. It has also expanded its services with its first decommissioning project in the North Sea supporting Maersk Oil North Sea Ltd. Ben Gujral, Harkand’s
Harkand Charters ROV Support Vessel in North Sea
track record of working in both the U.K. and Norwegian sectors of the North Sea. Harkand performs subsea inspection, repair and maintenance. The group was launched in February 2013 through the merger of Iremis, Integrated Subsea Services (ISS) and Andrews Survey following investment by Oaktree Capital Management. Employing close to 1,000 people at bases in Aberdeen, London, Houston, Singapore and Perth in Australia, Harkand aims to grow turnover to $1 billion in the next four years. The 85.4m Surf Ranger is a DP2 multipurpose ROV, survey and air diving vessel featuring a helideck, 60t TTS Energy
Gujral Named New Harkand CFO
in subsea IRM. Gujral replaces interim CFO Deborah Stevenson who was brought in to lead Harkand through the early stage of its expansion as a group. Harkand launched in February 2013 through the merger of Iremis, Integrated Subsea Services (ISS) and Andrews Survey following investment by Oaktree Capital Management. Harkand acquired Houston-based Veolia Marine Services in August this year. The company, which aims to grow turnover to $1 billion in the next five years, now employ close to 1,000 staff at bases in Aberdeen and London in the U.K., Dubai in the Middle East and Singapore and Perth in
Harkand, Siem Offshore Sign Charter Agreement
office in London. We are looking forward in 2014 to continue the strengthening of our global position by further investment in all regions.” Harkand was launched in February 2013 through the merger of Iremis, Integrated Subsea Services (ISS) and Andrews Survey following investment by Oaktree Capital Management. After the acquisition of Veolia Marine Services in August 2013, and through its organic growth initiatives, the group now employs close to 1,000 people at bases in Aberdeen in the U.K., Houston in the U.S., Dubai in the Middle East, Singapore and Perth in Asia Pacific, Paris in France
Harkand Appoints New CEO
growing turnover to $1 billion in the next five years. Due to take over the reins in October, he replaces Nicolas Mouté who steered the group’s formation since inception and through the merger of Iremis, Integrated Subsea Services (ISS) and Andrews Survey following investment by Oaktree Capital Management and the acquisition of Veolia Marine Services. Mouté will move to another senior role within the group, to be announced later. Chairman Tom Ehret said, “[Harkand] brings with him extensive experience of developing and delivering large scale, capital intensive projects and
Harkand Launches ROV Support Vessel in Singapore
with two new Triton XLX ROV’s which will be delivered in August, marks an important step forward in the company’s Asia Pacific development plan. Formed in February 2013 through the merger of Iremis, Integrated Subsea Services (ISS) and Andrews Survey following investment by Oaktree Capital Management, it employs 750 people at bases in Singapore and Perth in APAC, Dubai in the Middle East and Aberdeen in the UK, Harkand aims to grow turnover to $1 billion in the next five years. The group recently announced the acquisition of Veolia Marine Services based in Houston, which will further
New Support Vessel and GM for Harkand
and offers promising market opportunities as the extensive platform and pipeline infrastructure will continue to require a growing volume of IRM activities” Formed in February 2013 through the merger of Iremis, Integrated Subsea Services (ISS) and Andrews Survey following investment by Oaktree Capital Management, it employs 750 people at bases in Singapore and Perth in Asia Pacific, Dubai in the Middle East and Aberdeen in the U.K., Harkand aims to grow turnover to $1 billion in the next five years. The group recently announced the acquisition of Veolia Marine Services based in Houston, which
February 2025
