US-based Chouest Group has acquired Norwegian remotely operated vehicle systems manufacturer Kystdesign.
This acquisition strengthens Chouest’s subsea capabilities and enhances in-house solutions for other portfolio companies like C-Innovation and ROV services provider ROVOP which was acquired last year.
According to a statement from Chouest, the first integrated ROV system under this new arrangement is already in development.
Kystdesign now joins the US firm’s global workforce approaching 20,000 employees. Chouest expects the collaboration to drive significant advancements in subsea technology, unlocking new possibilities in deepwater operations and design.
The ROV manufacturer has grown massively in recent years. It has doubled its workforce, projected a 2024 turnover of around NOK 500m ($47m), and a record-high backlog.