In September 2024, Motive Offshore (“Motive”), an H2 Equity Partners portfolio company, completed the carve-out of Aquatic from Acteon Group. Aquatic is a leading provider of cable lay equipment which it rents to a global customer base from its operations in the UK, US and Singapore. As with Motive, Aquatic’s equipment is “sector agnostic” and is used to support cable lay work across the offshore wind, telecoms and oil & gas sectors.
With the addition of Aquatic, Motive now generates approximately £65 million in revenue making it one of the global leaders in renting, testing, inspecting and fabricating back-deck equipment for the offshore industry. Furthermore, given the complementary geographical footprint, rental fleets and customer relationships, the acquisition delivers significant further growth potential for the group. In particular, Aquatic provides Motive with additional equipment and enhanced capabilities in the Americas and Asia Pacific, and Aquatic will be able to benefit from Motive’s strong, established operations in the North Sea basin and the Middle East.
Aquatic marks the fourth bolt-on acquisition completed by the Motive management team and the second since H2 Equity Partners invested in July 2022. The Aquatic management team will remain in place and will work with Motive to drive the full potential of the combined group.
For further information on Motive, please visit: www.motive-offshore.com
