GeoSea acquires majority stake in geotech market firm

The Deme Group’s offshore solutions specialist, GeoSea has acquired the majority of shares in G-tec, the Belgium-based geotechnical and geological, marine geophysical, environmental survey and engineering services company.

G-tec, in which GeoSea now has a 72.5 per cent stake, was founded in 1993 and employs about 40 staff. The contractor also owns a geotechnical investigation vessel Omalius.

Omalius, the former Normand Draupne, was converted at Remontowa Shiprepair Yard in Poland in 2015 to undertake offshore geotechnical site investigations, offshore drilling, inspection using remotely operated vehicles, UXO clearance work, offshore support, anchor handling and towing and grouting supply.

The Liege-based G-tec has a consolidated turnover of about €20 million (US$23 million) and operates in the offshore oil and gas, offshore renewables, civil works and offshore mining sectors.

GeoSea said the company was a good strategic fit, enabling Deme Group to further reinforce the integrated services it offers.

Geotechnical investigation from GeoSea’s jack-up vessels is already part of the company’s offering.