Aqueos Corporation Acquired by Michels Holdings, Inc.
Aqueos Corporation (Aqueos), an US-based international subsea & transitional energy service provider, is pleased to announce that the company has been acquired by Michels Holdings, Inc.
The Michels family of companies is known as a US-based diversified global leader in energy and infrastructure construction. Aqueos will continue to operate as a separate and independent company. Ted Roche, the current Aqueos CEO & President, and all Officers of the company will remain in their roles.
The move strengthens Aqueos’ presence in the offshore energy, civil and renewable sectors. In addition, it provides the company with the necessary scale and balance sheet to accelerate its growth plan to become one of the leading offshore & marine construction companies. Our goal is to become a “one-stop-shop” to many of our clients, where there is a combination of offshore and onshore scope. Together, Michels and Aqueos form an extraordinary team of professionals with a broad range of specialty equipment that can self-perform complex engineered solutions for various offshore and inland marine-related projects.
“With a goal to create a strategic partnership focused on excellence, service, and professionalism, it quickly became clear that Michels shares the same vision we have, from the strength of management to the diversity of service offerings, and from the family-oriented environment to the focus on customer service, our cultures are very much aligned.”, said Ted Roche, Aqueos President & CEO. “Michels’ scale, scope, and significant service offerings give Aqueos the tools we need to accelerate our growth strategy and expand into new markets. I am excited to be working with Pat and the Michels’ team as we advance our growth plan. Most importantly, our stakeholders will benefit from this transaction, including shareholders, employees, suppliers, and especially, our customers. Aqueos looks forward to the opportunity to continue to bring exceptional service, on a larger scale, as part of the Michels family of companies.”
The Michels Family of Companies, founded in 1959, has over 8,000 staff worldwide, operating almost 17,000 heavy equipment assets. The family-owned and operated organization has an extensive history of providing construction infrastructure services. It has a solid on-shore marine construction capability and sees Aqueos as the ideal support partner to help deliver a wider array of marine-related construction services to its customers.
Speaking on behalf of the Michels Family of Companies, Pat Michels said, “We see Aqueos as a solid fit for our Group. There are several synergies already. Plus, Aqueos brings the expertise we can leverage as we continue to expand our service offering further offshore to meet the demands of our existing and new clients.”