Technology Ethos

Proserv has successfully completed a sponsor-backed management buyout (MBO), and is introducing an employee ownership scheme, marking a significant milestone in the company’s 60-year history.

Led by CEO Davis Larssen and CFO Mark Fraser, the multi-million pound deal is backed by GIIL, a UK-based investment vehicle of Glenn Inniss, the founder and owner of the GII Finance Group. For the past two years, GIIL (through its subsidiary GII Finance Group), has supported the financing of the business alongside investment funds and accounts managed by its existing shareholders Oaktree Capital Management, L.P. (“Oaktree”) and KKR.

As a result of the transaction, both Oaktree and KKR have exited their equity holdings in Proserv, with Piper Sandler serving as exclusive corporate finance advisor to the sellers.

Scottish ocean energy pioneers Mocean Energy and Aberdeen-headquartered leading global controls technology specialists Proserv have signed a working partnership agreement with the aim of accelerating the development of renewables solutions for subsea operations.

Together the two companies will plan and execute new technology for offshore operators in the renewables sector, setting out detailed development plans to collaborate and implement solutions aimed at accelerating the decarbonisation of offshore energy.

Delighted to announce a new collaboration between FALCOR Engineering and Contracting and Proserv, marking an important step in expanding our shared commitment to innovation and excellence in the energy sector.

This partnership was officially signed at the ADIPEC Exhibition and Conference in Abu Dhabi, by Mehdi Sidi Ali Mebarek CEO of FALCOR and Angus Rodger, Vice President, Services at Proserv.

The collaboration underscores Proserv’s dedication to delivering world-class solutions and strenghtening regional partnerships.

We’re excited to further develop Proserv’s technology solution across the Middle East energy sector.

Proserv, a leading provider of cutting-edge control technologies to energy companies, has today announced the signing of a Memorandum of Understanding (MoU) with Verlume, a leader in intelligent energy management and subsea power solutions for the offshore energy sector. The MoU outlines an agreement to explore collaborative opportunities in the subsea power and renewable sectors, bringing innovative technologies to the rapidly evolving clean energy market.

Under the terms of the MoU, Proserv and Verlume will integrate Proserv’s subsea control and communications systems with Verlume’s energy management and battery technology to improve the efficiency of subsea power delivery.

This enhanced level of system integration will reduce energy consumption by as much as 50% and significantly improve operational flexibility, reliability and reduce costs. By utilising an integrated approach, a unique market offering will be created which aims to provide reliable power to remote, subsea assets.

Together, the companies will explore potential projects that leverage their combined expertise to secure new business, enhance efficiency, and support the global transition to sustainable energy.

The MoU formalizes the commitment between Proserv and Verlume to work together, with the goal of delivering more efficient energy solutions to the market. The partnership will focus on integrating their respective technologies to create value-added opportunities that support both organizations’ growth within the energy transition.