Triton Group has taken another significant step forward in its plans to become a world-leading subsea technology and service group with the acquisition of an underwater digital video systems company.
The group, which has its headquarters at Westhill, near Aberdeen, has completed a deal to buy VisualSoft, also based at Westhill, for an undisclosed sum.
The acquisition is Triton’s eighth since it was formed in 2007, with the deals worth more than £100million.
Privately owned VisualSoft employs nine people, has a £2.7million turnover, and is a leader in digital video inspection systems for the offshore oil and gas market.
With 300 systems in the field worldwide, VisualSoft sells and rents systems for underwater video capture, playback and reporting of pipeline and structural inspection survey data.
In line with Triton’s acquisition strategy, VisualSoft’s shareholders and directors David Cant and Paul Evans will remain with the company and become shareholders in Triton.
Triton chief executive Martin Anderson said: “We are delighted to welcome Visual Soft into the group.
“Like all our previous acquisitions, VisualSoft is a leading company in its field with an excellent reputation and market share. It will benefit from the resources and infrastructure available within Triton and we look forward to expanding and growing the company.
“VisualSoft adds to our smart software products and technology capabilities and is another step towards our vision of a global business offering a wide range of technologies to the subsea industry.”
Triton is backed by private-equity company SCF Partners, and supported by the Royal Bank of Scotland.
The group includes Perry Slingsby Systems, Sub-Atlantic, UK Project Support, Subco, Cynergetix, Dynamic Positioning Services and Geoscience Earth and Marine Services.