Royal IHC acquires engineering consultancy KCI

Royal IHC will acquire KCI, the Dutch-based engineering and consultancy subsidiary of offshore service provider Oceanteam.

Under the agreed sale and purchase agreement, IHC will maintain KCI as an independent brand and operating company that will continue to serve external clients while also working on IHC projects.

Oceanteam will continue to have access to all intellectual property built up over the years in relation to its vessels, carousels and other assets.

It will be provided with all necessary engineering support to pursue growth of its solutions and shipping divisions.

KCI provides engineering solutions for the oil and gas, offshore wind and giant ferris wheel market.

Oceanteam will use the proceeds of the sale to improve the company's liquidity and reduce outstanding debts.