Aker Solutions to acquire electrical power systems consultant Unitech Power
Norwegian engineering company Aker Solutions has signed a deal to acquire Unitech Power Systems, an electrical power systems consultant based in Stavanger and Oslo, for an undisclosed price.
Unitech Power Systems has a workforce of over 35 specialist engineers. With over 35 years of operation, the Norwegian firm has expertise in the design, analysis, and review of electrical power systems.
Its revenues for 2020 were NOK63 million.
Post-acquisition, Unitech Power Systems will continue operating under its existing brand and management.
Inge Bent Kindem – Unitech Power Systems managing director said: “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.”
Aker Solutions to acquire Norwegian electrical power systems consultant Unitech Power Systems. Photo courtesy of Aker Solutions.
Aker Solutions said that the acquisition consolidates its growth strategy and will further expedite its transformation.
The acquisition of Unitech Power Systems is also said to be a key step in Aker Solutions forming an engineering consultancy business to fuel the energy transition.
Aker Solutions further stated that the deal will help it considerably boost its capabilities associated with high-voltage electrical power systems. By utilizing the strong expertise and track record of Unitech Power Systems with the existing front end, engineering and project management capabilities of Aker Solutions, the acquisition is expected to bring in growth in markets underpinned by the energy transition.
Kjetel Digre — CEO of Aker Solutions said: “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.”
The all-cash deal is anticipated to close during Q1 2022.