Petrofac snaps up UK subsea services firm
Oil and gas market services group Petrofac has acquired UK-based subsea pipeline consulting and engineering services firm KW Limited for an undisclosed sum.
Oil and gas market services group Petrofac has acquired UK-based subsea pipeline consulting and engineering services firm KW Limited for an undisclosed sum.
KW Limited, based in Fetcham, near Working, is said to have an established reputation in the subsea pipeline market and has gross assets valued at £2.7m at March 31st 2011.
It has 56 employees and will become part of Petrofac's Engineering & Consulting Services division.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Martin Barnes, the general manager of that division, commented: "KW is a well-established business with an excellent technical reputation and a diverse customer base."
"The business complements our existing engineering services skills whilst adding valuable subsea capability that will enable us to develop our leading engineering proposition offshore. We are delighted to welcome the KW team to Petrofac," he said.
BC
Sign up for MoneyWeek's newsletters
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
-
8 of the best houses for sale with annexes
The best houses with annexes – from a period property in the Lake District to a 13th-century house with a two-bedroom annexe in Saltwood, Kent
By Natasha Langan Published
-
Zelenskyy moves to appease Donald Trump – what happens now?
Ukraine’s president Volodymyr Zelenskyy is conceding ground to secure the least-worst deal possible, says Emily Hohler
By Emily Hohler Published