This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Acteon Group Announces Change In Ownership: First Reserve Corporation Sells Majority Interest In Acteon To KKR

Acteon Group Ltd (“Acteon”) today announces the acquisition of a majority interest in the company by an affiliate of Kohlberg Kravis Roberts & Co. L.P (together with its affiliates, “KKR”) from First Reserve, with management retaining a significant holding in the company. The executive management team will remain in place. Further terms of the transaction were not disclosed.

Acteon has built a significant subsea services business in the oil and gas sector. This latest investment will support the continued delivery of its ambitions and of its goal to define the market in this relatively new and expanding part of the upstream industry. As part of the transaction, the Houston-based private equity firm White Deer Energy will be investing alongside KKR and management.

Will Honeybourne and Jeff Quake, First Reserve Managing Directors, said “We have enjoyed working with the company’s talented management in their relentless goal to build an industry leader and we are delighted with the impressive success the company has achieved. Since our initial investment in 2006, Acteon has completed eight acquisitions, quadrupled its operating profits and significantly expanded its geographic footprint. We thank the entire Acteon team and wish them every success for continued growth in the future.”

Dominic Murphy, a Member of KKR, and Josselin de Roquemaurel, a Director of KKR, said: “This is a growth investment, in partnership with a highly entrepreneurial management team. We are excited to support Acteon and work with the team to develop it as a leading global franchise for offshore and subsea energy services.”

Originally founded in 1989, Acteon is a leading service provider to the worldwide offshore oil and gas and renewable markets. With a strong global presence, the company provides specialist subsea services for life-of-field operations from exploration through to decommissioning and generates substantial revenues from deep-water applications. Headquartered in Norwich, UK, with facilities in Brazil, Singapore, UAE, Malaysia, China, UK, the US and Germany, Acteon has completed projects in most of the world's prolific offshore oil and gas basins.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 17,798.49 -14.90 -0.08%
S&P 500 2,090.11 +1.24 0.06%
NASDAQ 5,127.5250 +11.3820 0.22%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs