Balmoral acquires Norwegian firm

Posted on 01 Apr 2018 and read 184 times
Balmoral acquires Norwegian firmBalmoral Offshore Engineering (www.balmoral-group.com) has taken over Norway-based Seaproof Solutions for an undisclosed sum, with the aim of strengthening the UK as a “major content provider” for the offshore wind sector.

The Norwegian company holds a “market-leading position” for offshore renewables products, which Balmoral says will boost its reputation in the industry.

Established in 1989, Seaproof designs and manufactures cable products (including tubes and cable protection systems) and is forecast to generate sales of about £13 million this financial year. It will continue trading under the same name, as a division of Balmoral.

Bill Main, Balmoral’s financial director, said: “This timely acquisition will help our drive into the developing renewables sector.

"The combination of Balmoral’s innovation and processing expertise with Seaproof’s considerable market presence presents a compelling offering.”

Henrik Bang-Andreasen, founder and CEO of Seaproof, said: “We look forward to harnessing Balmoral’s undoubted
engineering expertise and experience.

"The company’s track record is second-to-none, and that will bring immediate benefits to Seaproof’s existing client
base.

“The move opens up significant potential in the UK market for Seaproof — something we are very keen to develop. Both organisations see substantial opportunities for growth in the future.”

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