MacGregor, part of Cargotec, has acquired 51% of the shares of the privately owned company Flintstone Technology Ltd. Flintstone is a small and dynamic company specialising in advanced technology and innovative products primarily within the mooring and fluid handling business. The deal was closed on 22 September 2016, the company said in its press release.
"Offshore operators and field owners are looking for cost and weight optimized technologies in order to be more efficient. Flintstone has developed several products that reduce offshore installation time, bring weight savings onboard the floaters, and in some cases even contribute to more safe operations," says Høye Høyesen, Vice President, MacGregor Advanced Offshore Solutions. "Our ownership stake in Flintstone is a good fit for providing these solutions together. Flintstone's offering complements MacGregor's portfolio in the offshore segment and also expands our existing product portfolio into new market areas," Mr Høyesen continues.
"We are very happy to join MacGregor. We are a small team with competent and innovative engineers. We see a lot of potential we can bring along and add value for the customers. We like to challenge existing solutions and look for ways to improve, just what MacGregor is known for doing. Becoming part of a bigger company brings also many benefits, both for customers and our employees", says Andrew Clayson, Managing Director, Flintstone Technology.'
"BW Offshore retains a minority stake in Flintstone. We are happy to welcome MacGregor and with combined expertise, the company is able to help to bring innovative technology and solve the challenges our projects normally involve. Furthermore these solutions can be offered to a wider customer base," says Nordine Benbernou, SVP Business Development, BW Offshore.
Flintstone Technology Ltd., started in 2012 as product design consultancy and has completed several significant projects before developing their first own product in 2013, the buoy turret connector. The company is based in Dundee, UK and has ten employees.