Norwegian international oil services provider Aker Solutions is buying Canadian asset integrity management (AIM) company Thrum Energy.
The acquisition will expand Aker Solutions' AIM portfolio and increase the company's presence in the Atlantic Canada market.
Thrum Energy is a St. John's, Newfoundland-based asset integrity management company. The company provides a diverse portfolio of quality services to both onshore and offshore assets in Canada.
Asset integrity management (AIM) in Aker Solutions includes maintenance engineering, integrity management and advanced inspection and monitoring solutions, spanning from early design throughout the lifetime of an asset. The service helps clients reduce risk and improve availability of their onshore and offshore assets.
In a press release, Aker Solutions says the acquisition supports the company's growth plans in North America in general and in St. John's and Atlantic Canada in particular. Aker Solutions currently employs 40 people in St. John's. The company is also present in Calgary, Alberta.
"This is an important acquisition both for our AIM business, which we want to grow significantly over the coming years, and for our ability to meet customer expectations in Canada," says Tore Sjursen, head of maintenance, modifications and operations in Aker Solutions.
"We already have a strong presence with the AIM services we offer to customers on the Norwegian and UK continental shelf. With the acquisition of Thrum Energy we will increase our own competence as well as expand our offering to customers geographically," Sjursen says.
The transaction is expected to be closed in Q4 2012. The financial details are undisclosed.