Actuant Corp. (NYSE: ATU), Milwaukee, WI, has acquired Viking SeaTech for £150 million (US$225 million). Headquartered in Aberdeen, Scotland, Viking is an offshore support specialist providing equipment and services to the offshore oil and gas industry, primarily in the North Sea (U.K. and Norway) and Australia.
The majority of Viking’s revenue is derived from offshore vessel mooring solutions which include design, rental, installation and inspection. Viking also provides survey, manpower and other marine services to offshore energy asset owners.
Actuant Corp. serves niche markets including those using branded hydraulic tools and solutions; specialized products and services for energy markets; and highly engineered position and motion control systems.