Scottish marine contractor First Marine Solutions (FMS) has acquired Aberdeen-based Andrews Hydrographics (Andrews Survey) in a move aimed at strengthening its position in the subsea sector. The financial details of the acquisition, which is the latest development in FMS's growth strategy, were not disclosed.
The acquisition is expected to significantly boost FMS's workforce, doubling its headcount to 130 employees, and will result in a combined annual turnover of approximately £40 million. FMS Managing Director Steven Brown highlighted the strategic importance of the deal, noting that it will enhance the company's Survey & Positioning business unit, which has seen substantial growth over the past five years.
“This acquisition will bring greater depth and capability to our existing Survey & Positioning business unit, which has grown significantly over the last five years since its inception,” said Brown. “Global market dynamics in the subsea construction sector look particularly strong for the foreseeable future, so it is a logical move to further enable our already robust Survey & Positioning service line with the acquisition of a company as experienced and well-respected as Andrews Survey.”
FMS plans to invest further in both personnel and assets to expand this service line within its rapidly growing business.
Andy Dare, Managing Director of Andrews Survey, expressed optimism about the partnership, emphasizing the alignment of their operational values. “With almost five decades of industry experience to its name, Andrews Survey's international track record in delivering exceptional survey services has safety, innovation, and efficiency at its core. These standards align with the FMS ethos, and we look forward to the development of our joint service line, as together we continue to serve the international offshore energy sector.”
The acquisition reinforces FMS's ambitions to further its footprint in the offshore energy market, with a particular focus on subsea construction and survey services.
