According to the BBC, UK-based Cosalt warned last week it faced insolvency as a result of a big debt and pension burden. Its collapse put at risk its offshore operations in Aberdeen and Norway. NBGI Private Equity, which already owns ATR Group in the same sector, is buying Cosalt Offshore for an undisclosed sum.
ATR chief executive Keith Moorhouse will lead the enlarged group. According to Moorhouse, “this deal will be welcomed by Cosalt’s staff, customers and suppliers as an end to a period of uncertainty. Continue reading
THE WIRE 