Reach Subsea ASA, the trusted data and subsea service provider for ocean-based industries, has entered into an agreement to acquire 100% of the shares of the Australian marine survey company Guardian Geomatics PTY. LTD.
Guardian Geomatics was established in February 2018 by a group of industry experts with vast industry experience from among other places Fugro.
The company has been highly successful since the launch. In FY 2023 (fiscal year ending 30 June), revenues reached AUD 41.7 million, a growth of 96% compared to FY 2022. 2023 EBITDA was AUD 6.2 million, a growth of 41%.
Guardian Geomatics offers a variety of marine survey solutions to the oil and gas industry, and Government sector clients. These include geographical, hydrographic, oceanographic and environmental surveys.
In addition, Guardian conducts geotechnical site Investigations, positioning and ROV Services, as well as providing prime contracting and consulting services. The business is highly complementary to Reach Subsea’s existing operations and offers significant synergies with Reach Subsea.
Jostein Alendal, CEO of Reach Subsea, said: "I am extremely happy to welcome Guardian Geomatics into the Reach Subsea family.
"With Guardian’s market position in Australia, extremely experienced team and excellent proprietary surveying and data processing technology platform, the acquisition accelerates our strategic global expansion agenda and opens new doors for us in Australia and the Asia Pacific markets.
"Guardian Geomatics’ existing survey business is highly attractive, and as part of Reach Subsea, the company will serve as an enabler for launching our unmanned Reach Remote platform in Australia and other global markets."