Aker Solutions Buying Consultancy Firm To Drive Energy Transition
Norwegian oilfield services provider Aker Solutions has agreed to acquire compatriot electrical power systems consultant firm Unitech Power Systems, in line with its growth strategy.
Aker Solutions said that the Unitech Power Systems acquisition was another step towards further accelerating its transformation.
According to the company, the acquisition is an important step towards Aker Solutions creating an engineering consultancy business driving the energy transition.
The all-cash transaction is expected to be completed during the first quarter of 2022, at an undisclosed value. The acquisition will significantly enhance Aker Solutions' capabilities related to high-voltage electrical power systems.
By leveraging Unitech Power Systems’ strong expertise and track record with Aker Solutions' existing front end, engineering and project management capabilities, the acquisition will drive growth in markets supported by the energy transition.
"The energy transition will unlock large investments across multiple industries. Aker Solutions has capabilities and solutions that are transferable into new offerings and markets. We are excited to announce that we are enhancing our engineering offering into consultancy services. This acquisition is the first building block in creating a leading engineering consultancy business," said Kjetel Digre, chief executive officer of Aker Solutions.
"We are very excited to have Unitech Power Systems’ highly skilled employees as part of Aker Solutions. Their strong expertise and solid track record will complement and strengthen our competences and capabilities,” says Marte Mogstad, executive vice president and head of Aker Solutions' engineering business.
“Unitech Power Systems will be an important partner for our engineering business and EPC projects, and we will jointly work to develop consultancy services across emerging energy value chains,” Mogstad added.
"We are very excited to join Aker Solutions and look forward to contributing to the company’s exciting transition journey moving forward. We are confident that our unique capabilities and well-established market position will bring key contributions to Aker Solutions’ growth strategy in the years to come," said Inge Bent Kindem, managing director of Unitech Power Systems.
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