Atkins acquires Houston Offshore Engineering for $73m

UK-based project management firm Atkins has acquired Houston Offshore Engineering (HOE) for $73m.

Texas-based HOE offers engineering services to support offshore oil and gas developments.

"This acquisition considerably strengthens Atkins’ position in the active oil and gas design and engineering market, and is in line with our strategy to invest in growing our energy business."

The company specialises in deepwater projects and has experience in all types of marine engineering projects including terminals, loading buoys, fixed platforms, floating platforms and ultra-deep developments.

HOE’s projects range from conceptual studies, which help maximise value early in field development, to fully detailed design and engineering support for construction.

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The company’s clients include major and independent oil and gas firms, drilling and engineering contractors, fabricators, transport and installation contractors.

HOE, which has approximately 150 employees, reported revenues of $41m in the year to 31 December 2013.

Atkins chief executive officer Uwe Krueger said: "This acquisition considerably strengthens Atkins’ position in the active oil and gas design and engineering market, and is in line with our strategy to invest in growing our energy business, our key sector focus area.

"As the oil and gas industry continues to look for ways to access more challenging deepwater oil reserves there is a high demand for advanced, multi-disciplinary engineering skills.

"HOE brings exceptional expertise and an outstanding reputation to our existing business in this market. We now have around 1,000 oil and gas specialists drawing on technical excellence from our regional operations worldwide."