Omega goes for subsea

Omega becomes the majority stakeholder in Accpron Subsea Management, and establishes Omega Subsea.

-With Accpron Subsea Management’s (ASM) focused skill base , Omega will gain a better foothold in a subsea market that is experiencing growth. We are happy to have ASM’s employees with us as stakeholders; together, Omega Subsea and Omega will be a solid candidate to qualify for larger frame agreements,” says CEO in Omega AS, Petter Aalvik.

ASM joins the Omega group as Omega Subsea AS. The agreement was signed this week, and Omega AS will now be the majority shareholder, holding 52 percent of ASM shares, through a deal involving a share purchase and a ASM share issue towards Omega.

Increase in recruitment

ASM was established in 2012 and offers services within consultancy, engineering and project management in the subsea industry. Their services include all stages of a project, from tendering to project completion, within both marine and submarine operations. ASM also delivers operational senior offshore personnel.

The company currently has 30 employees at their offices in Bergen and Stavanger, but they also have agreements with contractors in Norway and Great Britain. Since 2012, ASM has established frame agreements with oil and gas companies and subsea entrepreneurs in Norway. The company had a turnover of NOK 47 mill in 2013.

“The management and employees of ASM are proud to receive the level of trust that Omega has shown us and we all look forward to becoming an integrated part of the Omega firm. Together, we want to develop Omega Subsea within our established strategy. It is our goal to increase recruitment so that we can offer a broader service to current and new clients,” says Trond Berge, CEO of Omega Subsea.

Mutual benefits

With more than 1000 employees, Omega has well-established support functions within accounting, administration, technology and service, all of which serve the organization as a whole.

“ASM has grown solidly since they started in 2012, and we are impressed with what the company’s management team has accomplished. Our close cooperation will assist Omega Subsea in achieving further growth, and the company will draw benefits from Omega’s presence in office locations throughout Norway and abroad,” says Aalvik.