The Chouest Group Acquires Kystdesign, a Leading ROV Manufacturer
The Chouest Group has announced the acquisition of Kystdesign, a renowned manufacturer of remotely operated vehicle (ROV) systems. This strategic move is set to enhance Chouest’s subsea capabilities and further solidify its position as a key player in the underwater robotics industry.
Welcoming Kystdesign to the Chouest Family
Dino Chouest, a spokesperson for the group, expressed excitement about the new partnership, stating, “We are thrilled to welcome Kystdesign and its talented team into the Chouest family. By joining forces, we will continue delivering cutting-edge ROV systems and advancing the evolution of next-generation underwater robotics.”
With this acquisition, Chouest aims to provide continued support to Kystdesign’s existing clients while also enhancing in-house solutions for C-Innovation and ROVOP, both integral parts of the Chouest portfolio. The collaboration between the two companies has already begun, with the development of an integrated ROV system marking the start of a promising new chapter.
Expanding Global Workforce and Growth Opportunities
The integration of Kystdesign into the Chouest Group brings the total global workforce to nearly 20,000 employees. Sven Stakkestad, chairman of the board of Kystdesign, expressed confidence in the acquisition, stating, “It is the right time to hand over Kystdesign to a new owner. The Chouest Group possesses the knowledge, strength, and ambitions necessary to guide the company’s future growth.”
Kystdesign has experienced significant growth in recent years, with achievements such as doubling its workforce, a projected 2024 turnover of $48 million, and a record-high order backlog. The acquisition by the Chouest Group is expected to further accelerate this growth trajectory and position Kystdesign as a leading player in the ROV market.
Overall, the acquisition of Kystdesign by the Chouest Group signifies a major milestone in the evolution of underwater robotics and subsea capabilities. The synergies between the two companies are set to drive innovation, efficiency, and growth in the industry, benefiting clients and stakeholders alike.