Aker Solutions completed the acquisition of 70% of Brazilian CSE Mecânica e Instrumentação Ltda.
The agreement includes an option for Aker Solutions to purchase the remaining 30% of the company three years from now.
The acquisition gives Aker Solutions access to Brazil's growing market for servicing existing oil and gas fields, building on a strategy to expand the company's services business in key international markets. CSE, which had revenue of nearly US$95 million (BRL 322 million) in 2015, provides maintenance, assembly, commissioning and crane operation services at offshore and onshore facilities.
Aker Solutions in October announced the agreement to buy the majority stake in CSE.
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