Norway-based Aker Solutions has agreed to acquire compatriot company Unitech Power Systems, an electrical power systems consultancy.
“The acquisition is an important step towards Aker Solutions creating an engineering consultancy business driving the energy transition,” the company said.
The all-cash transaction is expected to be completed during the first quarter of 2022, at an undisclosed value, Aker added.
It said 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 company said.
Aker Solutions chief executive Kjetel Digre 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.”
Aker Solutions engineering business head Marte Mogstad said: “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.”
Unitech Power Systems managing director Inge Bent Kindem 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.”