Global Marine Group Buys Stake in Rovco
Subsea technology company Rovco said it has formed an invested partnership with offshore engineering firm Global Marine Group (GMG) to bring intelligent inspection, repair and maintenance (IRM) solutions to the global offshore market.
GMG, made up of three business units - Global Offshore, CWind and Global Marine - has secured a 13.8% share in the Bristol and Aberdeen based remotely operated vehicle (ROV) and hydrographic services business. The partnership will see both companies work together to deliver a range of subsea solutions aimed at improving data acquisition.
Rovco’s latest development, SubSLAM, which replaces visual video inspection with live 3D reconstruction technology, to obtain an accurate picture of subsea assets and environments, will be deployed from GMG’s fleet of 21 specialized crew transfer vessels. GMG’s eight cable installation and maintenance vessels which are strategically located across the globe will also be able to support IRM projects.
SubSLAM enhances the accuracy and repeatability of subsea inspection, producing submillimetric data, and providing actionable information that reduces human error. Leveraging existing and active vessels, the partnership will also streamline multiple services and optimise current offshore operations to drive down costs and increase efficiencies. The mutually-beneficial partnership will enable both Rovco and GMG to serve a wider range of customers beyond their established industries.
Following the invested partnership, Mike Daniel, managing director of Global Offshore, part of the Global Marine Group joined Rovco’s board of directors. He commented, “Our partnership with Rovco enables us to continually evolve our client-centric subsea solutions. By utilizing a combination of innovation and engineering excellence, we can deliver a greater range of services to enhance our customers’ operations, worldwide.”
Brian Allen, founder and CEO of Rovco said, “This is a large step towards improving the efficiency of offshore IRM campaigns. We have industry leading data quality and the intelligence acquired will support preemptive asset maintenance and fault prediction, enabling customers to easily predict asset lifespan and corrosion or depletion rates. The partnership brings with it the creation of important synergies that will lead to the development of even more innovative solutions to benefit the offshore industry for years to come.”