U.S.-headquartered Chouest Group has expanded its portfolio and subsea offering with the acquisition of Norway’s Kystdesign, a manufacturer of remotely operated vehicle (ROV) systems.
The strategic portfolio enhancement is said to reinforce Chouest’s commitment to innovation and excellence in underwater robotics, further solidifying its position at the top of the global subsea technology club. Dino Chouest of Chouest Group, commented: “We are thrilled to welcome Kystdesign and its talented team into the Chouest family. By joining forces, we will continue delivering cutting-edge ROV systems and advancing the evolution of next-generation underwater robotics.” The acquisition of the Norwegian firm is interpreted to strengthen Chouest’s subsea capabilities, ensuring continued support for the former’s existing clients while enhancing in-house solutions for C-Innovation and ROVOP , which are perceived as key players within the U.S. firm’s portfolio.
Tore Nedland , CEO of Kystdesign, emphasized the opportunities ahead: “Kystdesign has always been dedicated to engineering high-quality, reliable subsea solutions. Becoming part of the Chouest Group — an industry leader in offshore and subsea operations — provides us with the resources, expertise, and global network to accelerate innovation and better serve our clients worldwide. We are excited about the future and the groundbreaking advancements we will achieve together.”
Moreover, the first integrated ROV system under this partnership is already in development, representing the beginning of what has been described as “an exciting new chapter” for the duo. With this integration, Kystdesign joins Chouest’s global workforce, which is approaching 20,000 employees.
Sven Stakkestad , Chairman of Kystdesign board, stated: “It is the right time to hand over Kystdesign to a new owner. The Chouest Group possesses the knowledge, strength and ambitions necessary to guide the company’s future growth. We welcome the Chouest Group to the Haugaland offshore cluster and extend our best wishes to the entire team.”
Given the expected benefits, the duo’s collaboration is anticipated to drive significant advancements in subsea technology, unlocking new possibilities in deepwater operations and design. Kystdesign has seen growth in recent years, doubling its workforce, projecting a 2024 turnover approaching NOK 500 million (almost $47.2 million), and a record-high order backlog.
Stakkestad noted: “This success would not be achievable without our strong team of employees, our loyal customers, and the solid foundation established by founder Erik Kold Bakkevig, who led Kystdesign until his passing in 2022.”