Koyug International B.V. has completed the 100 percent acquisition of Marsol International Ltd., a leading offshore and marine terminal service centre, specialized in offshore single point mooring (SPM) terminals and related infrastructure.
The acquisition is a strategic addition to Kotug’s portfolio in the worldwide offshore industry, and will strengthen Kotug’s position in the maritime services industry in the Middle East.
Ard-Jan Kooren, chief executive officer, Kotug International, commented: “Although we find ourselves in exceptionally challenging times, Kotug is committed to continue to strengthen and expand her worldwide activities. The integration of Marsol services will allow us to enter the Middle East market and add substantial value to our broad portfolio of services to our global customers. I would like to thank Mike Young, founder and owner of Marsol, who has established a reputable company with high quality services to their clients, with a great team of skilled people.
Mike Young: “I am very pleased that the Marsol family will become part of the KOTUG global family. Over the last 15 years Marsol has developed a well proven and recognized offshore service centre model and a sound track record with a knowledgeable and experienced team. I feel confident this acquisition opens the door for Marsol and its staff to participate extensively, through its value adding terminal Operations and Maintenance packages in KOTUG’s (new) business areas globally”.