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AAB / Blog / AAB Act As Advisors To Enovate Systems In The Sale To Aker Solutions
BLOG16th Apr 2013
Anderson Anderson & Brown (“AAB”) are delighted to have advised long term clients Enovate Systems Limited in the sale to Aker Solutions.
Aker acquired a majority stake in Aberdeen based Enovate, a leading technology company providing subsea well control equipment. The financial details of the acquisition are undisclosed however in the financial year 2012, Enovate had revenues of approximately £15m with an EBITDA of £5m.
Enovate, which currently employs 62 people, are a engineering and product provider to the worldwide energy sector, primarily to construct and supply new technologies relating to drilling BOPs, well control, well completion and well intervention operations. Enovate has developed a wide range of unique and patented components and products for use in open water work over systems, in riser work over systems, rig less intervention systems and drilling safety systems. Specific advantages are superior cutting and sealing capabilities and the unique use of complete metal to metal sealing solutions.
AAB has acted as advisors to Enovate since it was established in 2002, providing a full range of audit, tax and corporate finance services.
If you have any questions or would like further information, please don’t hesitate to contact us.
How AAB can help you with
When you need comprehensive, dependable support at any stage of your business journey, our corporate finance team will provide practical and motivating advice to help you progress with confidence. Throughout the landmark events of your business lifecycle, our specialist corporate finance team will guide you with sound, proven advice. AAB corporate finance can help you through the good times of growth and maturity, and be ready to support you should you encounter challenges such as restructuring or litigation.
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