Trelleborg Group (STO: TRELB) is buying Ambler Technologies Ltd., a Lancashire, England-based company that develops materials for remote operated vehicles.
Terms of the deal were not disclosed.
The buyer, headquartered in Trelleborg, Sweden, plans to use the technology to strengthen its position in the oil and gas exploration and extraction markets. The vehicles are used for offshore drilling projects. Ambler also develops other products for buoyancy and insulation in deep-sea environments.
Trelleborg’s products seal and protect products in various environments. The company’s divisions include Trelleborg Coated Systems, Trelleborg Industrial Solutions, Trelleborg Offshore & Construction, Trelleborg Sealing Solutions and Trelleborg Wheel Systems. It made the acquisition through Trelleborg Offshore.
Deals are trickling down to the energy support industries because of increased M&A in that sector. On April 8, IHS bought Fekete Associates, which provides software and services to the oil and gas industry.