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Subsea Global Solutions (US) acquires Flanders-based SRN
Business opportunities ahead! Flanders-based ship hull cleaning company SRN has been acquired by the US group Subsea Global Solutions for an undisclosed amount. With this merger, the US company taps into new markets in Europe and West Africa.
Cleaning with devices and divers
SRN uses remotely controlled devices to clean ship hulls. The device allows them to remove natural growth on the hulls that builds up when the ships aren’t out to sea, or when they sail more frequently in warm waters. Clean hulls mean the ships experience less resistance in the water and consume less fuel. SRN also uses divers to clean ship propellers and perform underwater inspections.
Filling in the gap
SRN Group is a relatively small company, with only 15 employees. But the company, founded in 2013, is the only player in Flanders and Belgium that cleans the hulls of commercial vessels. In Northern Europe, the only other competitors are in the Netherlands and Denmark. As such, SRN can cover a relatively large area, from Belgium and the port in Rotterdam to many locations in neighboring countries – even West Africa is within their sphere of influence.
Subsea Global Solutions meanwhile is active primarily in North and South America and Asia, but it hasn’t yet established a foothold in Europe. So with SRN, the US company is filling in an empty spot on their map.
Dive into how to set up a business in Flanders.