Rutland Partners acquires subsea company GEMS

Private equity firm Rutland Partners has announce the acquisition of GEMS, which engages in subsea technical analysis and surveying.

Rutland has invested €16m (£13.7m) for a majority shareholding in the company, which is also engaged in near-shore investigations and environmental monitoring.

While GEMS is a Belgian registered company, the principal operating divisions in the GEMS group, GEMS Geotechnical and Geophysics, are based in the UK, in Bath and Devizes respectively.

GEMS’ customers are principally oil and gas exploration companies, wind-farm developers, telecommunications companies and port operators.