Aquaterra Energy acquires business and assets of Hyco
Specialist offshore engineering solutions company, Aquaterra Energy, has acquired the business and assets of Hyco, a hydraulic control system supplier, further strengthening its offering to the international offshore oil and gas industry.
As a supply partner for a number of years, Hyco has provided Aquaterra Energy with a range of hydraulic systems which have formed part of the company’s solutions to complex offshore engineering challenges on a variety of projects.
Jim Watters, founding director of Hyco commented: “The Hyco offering has filled a gap in the market for reliable hydraulic solutions, built on extensive technical product knowledge, strong design expertise, innovative thinking and careful product sourcing. We now have a great opportunity to expand the market reach of our products, as part of Aquaterra Energy’s impressive team.”
Patrick Phelan, managing director of Aquaterra Energy, said: “The completion of this acquisition marks an important milestone in our business development strategy, adding even greater depth and strength to our Riser Systems engineering solutions and extending the scope of our Service and Rental business stream.”
In September 2012, Aquaterra Energy launched a new, refined corporate identity which will now be applied across the Hyco business.
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