Atkins buys oil & gas offshore firm for $73mn
Houston Offshore Engineering made $41mn in revenue last year
Atkins has acquired Houston Offshore Engineering (HOE), an oil and gas offshore engineering business based in Houston, Texas, for $73mn.
HOE has specialist experience in the design of offshore deepwater floating production platforms with a well established project and client base in the international oil and gas market.
In the year to 31 December 2013, HOE reported revenue of $41mn and employs around 150 people.
Prof Dr Uwe Krueger, Atkins’ chief executive officer, said: “This acquisition considerably strengthens Atkins’ position in the active oil and gas design and engineering market and is in line with our strategy to invest in growing our energy business, our key sector focus area.“As the oil and gas industry continues to look for ways to access more challenging deepwater oil reserves there is a high demand for advanced, multidisciplinary engineering skills. HOE brings exceptional expertise and an outstanding reputation to our existing business in this market. We now have around 1,000 oil and gas specialists drawing on technical excellence from our regional operations worldwide.”