Actuant completes Viking SeaTech acquisitionPosted on
Actuant Corp. completed its acquisition of Scotland-based Viking SeaTech for about $225 million.
Viking is an offshore support specialist that provides equipment and services to the offshore oil and gas industry, primarily in the North Sea (U.K. and Norway) and Australia. The majority of Vikings revenue is derived from offshore vessel mooring solutions, which include design, rental, installation and inspection. Viking also provides survey, manpower and other marine services to offshore energy asset owners.
Actuant will announce its fiscal 2013 fourth-quarter and full-year financial results on Oct. 1. They will include information about Viking and its anticipated impact on future operating results.