FORNEBU, Norway – Aker Solutions has agreed to buy 70% of C.S.E. Mecânica e Instrumentação Ltda.
The agreement includes an option to purchase the remaining 30% of the company three years after the close of the transaction, which is expected by the end of 1Q 2017. The parties agreed to not disclose the purchase price. The acquisition is subject to approval by Brazilian competition authorities.
Aker Solutions says the acquisition gives it access to Brazil’s growing market for servicing existing oil and gas fields. C.S.E. provides maintenance, assembly, commissioning, and crane operation services at offshore and onshore facilities.
The owners of C.S.E., Altair Dietrich, CEO, and Luiz Joanello, chief commercial officer, will stay on with the company. It will remain a separate legal entity with a management team consisting of personnel from each company.