North East offshore specialist Tekmar has announced it is considering an offer from a global investor.
The Darlington business, which provides technology and services for the global offshore energy markets, announced in June that it was seeking a “strategic partner” as it did not have enough cash to turn around a loss-making position. The group – which has five main operating companies with Tekmar Energy, Subsea Innovation, AgileTek Engineering, Ryder Geotechnical and Pipeshield International - launched a review to seek a strategic partner to support its opportunities for growth and provide additional balance sheet strength. Last month it said it had received a number of indications of interest.
Now the company says that, following a review of the proposals received, it has singled out a preferred partner, a global energy sector investor. The investor has been granted a 60 day-period of exclusivity to carry out further due diligence and finalise its proposal. The move, however, doesn’t close the door on other offers.
