Thu, Aug 21, 2014 07:07
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Oceaneering Acquires AGR Field Operations For $230 Million

Texas Business reports:  HOUSTON—Oceaneering International Inc. announced its wholly-owned Norwegian subsidiary, Oceaneering AS, closed the previously-announced definitive agreement to acquire AGR Field Operations (AGR FO). 

AGR FO is a provider of inspection, maintenance, subsea engineering, and field operations services, principally to the oil and gas industry.

The acquisition price was approximately $230 million, including acquired debt, and was funded with cash and debt from Oceaneering's existing revolving credit facility.

Oceaneering is a provider of engineered services and products, primarily to the offshore oil and gas industry, with a focus on deepwater applications. 

Oceaneering also serves the defense and aerospace industries.