Chouest Group Acquires Kystdesign
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The Chouest Group is proud to announce the acquisition of Kystdesign, a premier manufacturer of remotely operated vehicle (ROV) systems. This strategic move reinforces Chouest\u2019s commitment to innovation and excellence in underwater robotics, further solidifying its position as a global leader in subsea technology.<\/p>\n
Dino Chouest expressed enthusiasm for the partnership, stating: \u201cWe 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.\u201d<\/p>\n
Tore Nedland, CEO of Kystdesign, echoed this excitement, emphasizing the opportunities ahead: \u201cKystdesign has always been dedicated to engineering high-quality, reliable subsea solutions. Becoming part of the Chouest Group \u2014 an industry leader in offshore and subsea operations \u2014 provides us with the resources, expertise, and global network to accelerate innovation and better serve our clients worldwide. We are excited about the future and the groundbreaking advancements we will achieve together.\u201d<\/p>\n
This acquisition strengthens Chouest\u2019s subsea capabilities, ensuring continued support for Kystdesign\u2019s existing clients while enhancing in-house solutions for C-Innovation, LLC and ROVOP \u2014 key players within the Chouest portfolio. The first integrated ROV system under this partnership is already in development, marking the beginning of an exciting new chapter for both companies.<\/p>\n
With this integration, Kystdesign joins Chouest\u2019s global workforce approaching 20,000 employees. This collaboration is expected to drive significant advancements in subsea technology, unlocking new possibilities in deepwater operations and design.<\/p>\n
Sven Stakkestad, chairman of the board of Kystdesign, states: \u201cIt 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. We welcome the Chouest Group to the Haugaland offshore cluster and extend our best wishes to the entire team.\u201d<\/p>\n
Kystdesign has achieved tremendous growth in recent years \u2013 including doubling its workforce, projected 2024 turnover approaching NOK 500 million, and a record-high order backlog. Sven Stakkestad acknowledges: \u201cThis success would not be achievable without our strong team of employees, our loyal customers, and the solid foundation established by founder Erik Kold Bakkevig, who led Kystdesign until his passing in 2022.\u201d<\/p>\n<\/div>\n
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