Triton Group, an undersea services business, has completed acquisitions totalling £100 million since it was founded at the start of last year
Triton Group, an undersea services business, has completed acquisitions totalling £100 million since it was founded at the start of last year.
The milestone was reached following the acquisition of VisualSoft, an underwater digital video systems specialist, which employs nine people and has a turnover of almost £3 million.
It marks the eighth deal since Triton was set up, following the buy-out of Perry Slingsby Systems.
Based near Aberdeen, the firm is backed by Houston-based private equity firm SCF Partners, which last year opened an Aberdeen office, and is also supported by Royal Bank of Scotland.
Its services include supplying remotely operated vehicles and tooling systems to offshore operators, staff recruitment and equipment rentals.
Triton chief executive Martin Anderson commented on the deal: “Like all our previous acquisitions, VisualSoft is a leading company in its field with an excellent reputation and market share.”
He added: “It 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.”
David Cant of VisualSoft added: “By joining the Triton group, we will capitalise on our position as the world’s leading supplier of digital video inspection systems.”