KBS CORPORATE DIVES INTO MARINE EXPLORATION MARKET TO OVERSEE SALE - KBS Corporate

KBS CORPORATE DIVES INTO MARINE EXPLORATION MARKET TO OVERSEE SALE

West Yorkshire-based Phoenix Engineering Systems Limited has been sold to Shearwater GeoServices, with KBS Corporate overseeing the transaction.

West Yorkshire-based Phoenix Engineering Systems Limited has been sold to Shearwater GeoServices, with KBS Corporate overseeing the transaction.

Phoenix has established itself as a reputable player in the international marine seismic exploration market, offering a complete design, manufacturing and maintenance solution. The company is recognised as a vibration isolation expert, with the three largest fleets in the world utilising its patented PVIM (Phoenix Vibration Isolation Module) products.

The business was established by Donald Wallace, its Managing Director, in Sydney, Australia originally, growing over the course of nine years before relocating to the UK in 2016.

Shearwater GeoServices was identified as the eventual acquirer, building on an existing relationship between the two parties.

With their head office based in Bergen, Norway, Shearwater is an innovative global provider of 3D and 4D marine seismic data, imaging products and data processing software. They operate a fleet of modern, purpose-built vessels with towed and ocean-bottom seismic acquisition capabilities.

Donald Wallace will remain with the business for the foreseeable future to work closely with the new owner as Phoenix enters its next stage of development.

Corporate Director Tom Eatough, who advised Donald throughout the process, commented: “Phoenix is a great business with a strong foothold in a specialist niche of its sector.

“I was really pleased we managed to secure the right deal for Donald and I’m sure the acquisition will be a great success for both parties moving forwards.”

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