AIS Buys CRP Subsea
UK-based AIS has acquired its compatriot CRP Subsea (ex-Trelleborg Offshore UK) to expand its subsea offering.
CRP Subsea specializes in polymer and syntactic foam-based buoyancy and protection products for the offshore renewables and oil and gas industries.
"With solutions such as buoyancy, floats, and bend protection, [CRP Subsea's ] range will complement and expand AIS' current subsea offerings that include cable protection, distributed buoyancy modules, insulation solutions, and our range of AIS Bardot and Manuplas products," AIS said.
"The acquisition will significantly increase AIS' market share by uniting two industry leaders to create one global-scale business. Together, the companies will be able to capitalise on the current oil and gas cycle, pursue the energy transition with combined resources, and will be better positioned to serve their client base," AIS said.
Financial details were not disclosed.
Andrew Bennion, AIS Group Managing Director, said: "Considerable growth is expected in the offshore market, and the acquisition further strengthens AIS' position in the industry, whilst ensuring our customers have access to a wider range of innovative subsea solutions. Indeed, AIS and CRP Subsea share DNA as forward thinking, innovative companies, and we will be stronger together."
John Drury, CRP Subsea Managing Director, said: "We are really excited about this new chapter for CRP Subsea as we join the AIS family.
"The move enables us to accelerate our growth ambitions towards the offshore energy sector, and the synergies between CRP Subsea and AIS will allow us to bring even greater value to our customers around the world."