The Edison Chouest Offshore Group, known for its leadership in the maritime and underwater robotics industries, has announced the acquisition of Kystdesign, a leading Norwegian manufacturer of ROV (remotely operated vehicle) systems. This acquisition represents a strategic step in strengthening the group’s capabilities in the field of underwater robotics.
About the acquisition
Kystdesign, which has experienced significant growth in recent years, now joins the Chouest family, known for its global fleet of vessels and expertise in subsea operations. With this acquisition, the Chouest Group hopes to further advance the development of advanced technological solutions for the remotely operated vehicle market, offering more efficient and robust systems for deepwater operations .
Dino Chouest, President of the Chouest Group, expressed his enthusiasm for the integration of Kystdesign:
We are delighted to welcome Kystdesign and their talented team to the Chouest family. By joining forces, we will continue to deliver state-of-the-art ROV systems and advance the evolution of next-generation underwater robotics.
Development and improvement of ROV solutions
Kystdesign CEO Tore Nedland highlighted the tremendous opportunities the acquisition will bring. According to Nedland, Chouest’s support will provide the resources, expertise, and global network needed to drive innovation and improve customer service worldwide. The collaboration will also contribute to the expansion of Kystdesign’s ROV solutions , improving competitiveness in the subsea sector.
With this acquisition, Chouest strengthens its portfolio of companies related to underwater robotics, including C-Innovation and ROVOP, which will also benefit from Kystdesign’s new capabilities. The company also reported that the first integrated ROV system under this new collaboration is already under development, marking a milestone in the technological evolution of the industry.
Solid growth and future expansion
Kystdesign has demonstrated a strong capacity for growth, doubling its workforce in recent years and forecasting revenue of NOK 500 million by 2024. The acquisition of the company is seen as a strategic step to continue driving growth in the underwater robotics market while offering advanced solutions to a global customer base.
Sven Stakkestad, Chairman of the Board of Directors of Kystdesign, expressed his confidence in the acquisition:
The time is right to hand Kystdesign over to a new owner. The Chouest Group has the knowledge, strength, and ambition to guide the company’s future growth.
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Source and photo: Edison Chouest Offshore
