"However the common threads in every case are that impROV seek to partner with companies: · focused on professionally managed and delivered, technically excellent and cost effective technical solutions · committed to after-sale service · committed to QHSE · who pro-actively foster a non-bureaucratic, friendly, “can do” attitude among their own personnel reflecting the culture that we promote within impROV"
They were acquired by Fugro and are now named Fugro Improv Limited
Fugro NV in The Netherlands has reached agreement with Improv Ltd in Aberdeen in the UK to acquire the company and its subsidiary Improv Inc in Houston in the US for a total of £5.8 million.
The acquisition is effective immediately and is expected to be earning enhancing to Fugro from second quarter 2007 onwards.
Improv’s current annual revenue is approximately EUR 10 million. The company has 30 employees.
Improv is a leading independent provider of specialised integrated tooling packages and tooling services to the subsea oil and gas industry.
The tooling packages are designed to be operated by ROVs to enable remote diver-less intervention on subsea assets throughout all phases of the oil and gas field life cycle where the operating regime excludes manned intervention.
Improv’s capability will provide synergistic benefits to Fugro’s growing global ROV fleet of over hundred systems and will also provide additional subsea engineering design and build capabilities that can enhance the Group’s offshore geotechnical capabilities.
Improv currently operates mainly in North Sea, Mediterranean, and West Africa with a growing business in Gulf of Mexico.
Improv will be renamed Fugro Improv Limited and will form part of the survey division of Fugro as an independent operating company under its existing management.
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