Petrofac Ltd Acquires KW Ltd
Petrofac, the international oil & gas service provider, announces that it has acquired the entire share capital of KW Limited (KW). Based in Fetcham, near Woking, with an office in Aberdeen, KW is a high-end subsea pipeline consulting and engineering services business with an established reputation in the subsea pipeline market. As at 31 March 2011, KW had gross assets of £2.7 million. The business and its 56 employees will become part of Petrofac's Engineering & Consulting Services business.
Kevin Williams, technical director of KW Limited, commented: "KW has built a strong reputation as a provider of high value subsea pipeline consulting and engineering and our strong technical and engineering capability provides a solid foundation for future growth. We are excited by the opportunities that being part of Petrofac brings and look forward to playing our part in the development of the business."
Martin Barnes, general manager of Engineering & Consulting Services - Woking, commented:
"KW is a well-established business with an excellent technical reputation and a diverse customer base. The business complements our existing engineering services skills whilst adding valuable subsea capability that will enable us to develop our leading engineering proposition offshore. We are delighted to welcome the KW team to Petrofac."