Kotug International has announced that it has acquired offshore and marine terminal service centre Marsol International.
The financial terms of the transaction were not revealed.
The deal is expected to boost the company’s position in the maritime services industry in the Middle East.
Marsol provides SPM & offshore terminals with integrity management based commercial and technical marine service solutions.
In the previous years, the company has functioned on 32 offshore marine terminals located in over 20 countries. The operational headquarters of Marsol is based in Dubai, UAE.
Kotug International CEO Ard-Jan Kooren said: “Although we find ourselves in exceptionally challenging times, Kotug is committed to continuing 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.”
Young added: “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 recognised offshore service centre model and a soundtrack record with a knowledgeable and experienced team.”
The day-to-day management of Marsol will be overseen by Willem de Vries who is responsible for the Middle East office of Kotug in Dubai.