AquaTerra Group has completed a management buyout led by Managing Director, Stephen Taylor, for a seven-figure sum.
Stephen Taylor has acquired the majority share of the company, while Nigel Whitton, Commercial Director and Frank Hall, Marine Services Director have become minority shareholders.
Accounts Director, Elaine Pacitti, has announced her plans to retire early next year after almost 20 years’ service at AquaTerra. Meanwhile, Peter Robinson, previously the majority shareholder, continues in his role as Chairman under the new ownership.
Founded in 2004, AquaTerra Group has a strong track record in delivering multi-discipline construction, maintenance and inspection services to the Oil and Gas, Decommisioning, Marine, and Offshore Wind markets.
Stephen said, “I am delighted to take the lead for this fresh chapter in AquaTerra’s business development and look forward to the many exciting opportunities ahead. Alongside Nigel, Frank, and the rest of our talented and experienced team, we will continue to build on the strong foundations that Peter and Elaine have laid for the business over the past 20 years.
Peter will continue to work closely with me to deliver our planned strategy for the business.
With a growing client base and an ever-improving range of products and services, I feel extremely positive about the future for AquaTerra.
We have traditionally supported production focused assets, and with many of those clients now entering a phase of late life and decommissioning we have seen a significant increase in the demand for our services. On the other end of the energy spectrum, we have several new clients in the offshore renewables market, and we are very excited about continuing to support that energy transition.”
Last year AquaTerra announced the formation of a new Marine & Drilling division and expansion of their Inspection Department to support multiple clients both at home and internationally.
In addition to AquaTerra’s services, the business also offers a range of speciailist products including AquaShim, AquaCLAm, QuikDeck, CureShield, and MGP-i.