Subsea robotics firm Rovop is under new US ownership following its acquisition by American billionaire Gary Chouest.
It was previously owned by global private equity firm Bluewater.
The business, which turned over nearly £53 million in 2022-23, changed hands for an undisclosed sum.
Founded in 2011 and headquartered in Westhill, near Aberdeen, Rovop is one of the world’s largest providers of remotely-operated vehicle (ROV) services.
It has clients in the oil and gas, offshore wind and utilities industries around the world.
Overseas operations are in locations including Houston in the US, Singapore and Dubai.
Rovop employed nearly 270 people during its last reported trading year
The last set of accounts filed at Companies House for Rovop’s holding company showed the group employed 266 people, on average, during the 12 months to March 31 2023.
They include Neil Potter, Rovop’s chief executive.
Commenting on the change of ownership, Mr Potter said: “I am excited to share today’s announcement which, with our combined capability, will allow us to service customers with more flexibility, scale and breadth of services than ever before.
‘Remarkable opportunity’
“This is a remarkable opportunity for growth, innovation and delivery of even greater value to our clients, bringing a significantly increased fleet of ROVs and an expanded knowledge that our customers will be able to tap into.
“Our specialist teams have helped drive our recent growth and we now look forward to integrating with the Chouest family and leveraging their global resources to enhance our capabilities and expand our reach.”
Rovop’s CEO added: “I would like to thank Bluewater for its support over the past seven years.
“We’re now looking forward to this next chapter in the Rovop story.”
Mr Chouest is the owner and president of Louisiana-based Edison Chouest Offshore, which owns more than 200 offshore vessels for the oil & gas and wind power industries.
It was founded in 1960 by his father, Edison Chouest.
Chouest group companies also include its vessel-based operations, Caltex Oil Tools, Bram Offshore and C-Innovation.
According to US magazine Forbes, Gary Chouest and his family are worth £1.6 billion.
Their other business interests include two yacht manufacturers and Norwegian offshore supply vessel firm Island Offshore.
A spokesperson for the Chouest group said its latest acquisition meant it now owned and operated a fleet of more than 100 remotely-operated vehicles and six autonomous underwater vehicles.
Integration of Rovop into the US group’s operations will start immediately.
Dino Chouest, the new owner’s eldest son, said: “Rovop has established a reputation for excellence.
“This acquisition is a key part of our strategy to enhance our integrated subsea services.
“We are excited to welcome Rovop’s talented team into our family.
“Their expertise and capabilities are crucial as we expand our portfolio and continue to offer industry-leading solutions to our clients.”
‘Fantastic journey’
Meanwhile, Bluewater managing director Martin Somerville said: “We have been on a fantastic journey with Rovop.
“The company is in great shape as we hand the business over to new owners for this next stage of the story. This is another great example of a Bluewater investment, growth journey and successful exit.”
Conversation