February 7, 2022 - Aker Solutions has agreed to acquire Unitech Power Systems, a
leading electrical power systems consultant, building on Aker Solutions' growth
strategy and further accelerating its transformation. The acquisition is an
important step towards Aker Solutions creating an engineering consultancy
business driving the energy transition.
The all-cash transaction is expected to be completed during the first quarter of
2022, at an undisclosed value. The acquisition will significantly enhance Aker
Solutions' capabilities related to high-voltage electrical power systems. By
leveraging Unitech Power Systems' strong expertise and track record with Aker
Solutions' existing front end, engineering and project management capabilities,
the acquisition will drive growth in markets supported by the energy transition.
"The energy transition will unlock large investments across multiple industries.
Aker Solutions has capabilities and solutions that are transferable into new
offerings and markets. We are excited to announce that we are enhancing our
engineering offering into consultancy services. This acquisition is the first
building block in creating a leading engineering consultancy business," said
Kjetel Digre, chief executive officer of Aker Solutions.
"We are very excited to have Unitech Power Systems' highly skilled employees as
part of Aker Solutions. Their strong expertise and solid track record will
complement and strengthen our competences and capabilities. Unitech Power
Systems will be an important partner for our engineering business and EPC
projects, and we will jointly work to develop consultancy services across
emerging energy value chains," said Marte Mogstad, executive vice president and
head of Aker Solutions' engineering business.
"We are very excited to join Aker Solutions and look forward to contributing to
the company's exciting transition journey moving forward. We are confident that
our unique capabilities and well-established market position will bring key
contributions to Aker Solutions' growth strategy in the years to come," said
Inge Bent Kindem, managing director of Unitech Power Systems.
ENDS
Media Contact:
Torbjørn Andersen, mob: +47 928 85 542, email:
torbjorn.andersen@akersolutions.com
Investor Contact:
Fredrik Berge, mob: +47 450 32 090, email: fredrik.berge@akersolutions.com
Unitech Power Systems is based in Stavanger and Oslo, Norway, and employs more
than 35 highly skilled specialist engineers. With more than 35 years of
operation, the company has a strong reputation and is well recognized for its
expertise in the design, analysis and review of electrical power systems. The
company's revenues for 2020 was NOK 63 million. Unitech Power Systems will
continue to operate under its existing brand and management.
For further information about Unitech Power Systems, please visit
www.unitech.no (https://www.unitech.no/?lang=en_GB)
Aker Solutions delivers integrated solutions, products and services to the
global energy industry. We enable low-carbon oil and gas production and develop
renewable solutions to meet future energy needs. By combining innovative digital
solutions and predictable project execution we accelerate the transition to
sustainable energy production. Aker Solutions employs approximately 15,000
people in more than 20 countries.
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subject to our disclaimer, see https://akersolutions.com