Proserv, the Aberdeen-headquartered technology group, has announced the disposal of its field technology services (FTS) business, in a move that will see more than 170 employees transfer to a new owner.
The group, which provides equipment and controls technology to the oil and gas sector, has continued its busy pipeline of sales and acquisitions activity with the sale of the FTS unit to subsea services group Acteon.
A total of 177 employees will move across to the Acteon group, which is headquartered in Norwich, as part of the agreement.
The FTS business comprises cutting, friction stud welding and pipeline maintenance and incorporates bases located in Aberdeen, Norway, the US and Singapore.
These services and facilities will be integrated into Acteon under its Claxton brand.
Under the deal, the unit’s survey division is to join Acteon’s UTEC Survey arm, which is headquartered in Aberdeen and has more than 350 staff.
Sam Hanton, president of FTS, is to transfer with his management team and will lead the integration process.
It marks the latest in a number of divestment deals for Proserv, which is continuing to realign its focus on its core controls technology offering following a strategic review.
In March the group announced that it had sold its Coatbridge-based drilling business Tic to pressure control systems specialist C-Automation, based in Texas.
A month prior to this, Proserv acquired flow computer metering specialist SGC Metering, also based in Coatbridge, from Petrofac.
Full details of the transaction with Acteon have not been disclosed but it is anticipated that the deal will be completed by the end of July.
A transitional service agreement will be in place at several FTS sites as the process of separating the businesses is concluded.
Davis Larssen, chief strategy officer at Proserv, said: “Following the recent strategic review of our business, it was decided that capabilities such as cutting, friction stud welding, pipeline maintenance and surveying no longer equated to Proserv’s core controls technology offering, so a sale process was subsequently initiated.”
He added: “The FTS team has been an integral part of Proserv’s portfolio for a number of years but this divestment enables both businesses to move forwards with great positivity and optimism for the future. We wish Sam and his team well as they commence their new chapter at Acteon.”