Hunting Acquires Enpro Subsea from EV Private Equity

Updated 1 year 6 months ago

Hunting announced the completion of the acquisition of EV Private Equity-backed Enpro Subsea for $33 million in cash plus $3 million on 2020 EBITDA performance. Aberdeen-based Enpro designs subsea intervention equipment with 40 employees and all manufacturing outsourced. The company was founded in 2011 with over 70 applications adopted in the North Sea, Gulf of Mexico, and North Africa. The senior management team will continue with Hunting. In 2019, Enpro generated $14.1 million in revenue and $3.4 million EBITDA.

Hunting CEO

The acquisition of Enpro further strengthens Hunting's subsea offering and adds a high technology product group to our portfolio. The offshore market continues to strengthen and we look forward to providing a wider technology offering to our customers who continue to seek lower cost, enhanced production and more efficient solutions to the production of oil and gas.