Royal IHC Swoops On KCI The Engineers
- Business & Finance
Oceanteam and Royal IHC have signed a contract by which IHC will acquire all of the outstanding share capital of Oceanteam’s Dutch-based engineering and consultancy company KCI The Engineers.
Royal IHC plans to maintain KCI as an independent brand and operating company which will continue to serve external clients while also working on IHC projects.
Oceanteam will continue to have access to all intellectual property built up over the years in relation to its vessels, carousels and other assets, the company said.
In addition, Oceanteam will also have access to KCI’s engineering capabilities through a long-term Service Level Agreement (SLA), which will provide the company with all necessary engineering support to pursue further growth of its remaining two operating segments – the Solutions and Shipping divisions.
“IHC presented a strategy that fits with the next step KCI has to take in terms of further expanding its unique designs and credentials list to become an even stronger partner for its clients. It also emphasizes the confidence in the engineering capabilities and idea realization skills of the KCI team,” Haico Halbesma, CEO of Oceanteam, said.
The company said it will use the proceeds of the sale to improve liquidity and to reduce outstanding debts.
“By securing continued access to KCI’s services for our own Solutions business this is definitely a win-win transaction,” Halbesma said.