Scotland business

Enpro Subsea bought by energy services group Hunting

Enpro tech equipment Image copyright Enpro Subsea
Image caption Enpro specialises in subsea production technology for the offshore oil and gas industry

Scottish subsea technology firm Enpro Subsea has been bought by London-based energy services group Hunting in a cash deal worth up to $36m (£27.8m).

Enpro provides production technology for the offshore oil and gas industry.

Its applications have been adopted in the North Sea, Gulf of Mexico and West Africa.

Enpro, which was founded in 2011, was acquired from members of its management team and Energy Ventures Private Equity.

The Aberdeenshire-based firm operates subsidiaries in Ghana, Norway and the US.

It was recently named Company of the Year by industry body Subsea UK.

Hunting chief executive Jim Johnson said: "The offshore market continues to strengthen and we look forward to providing a wider technology offering to our customers who continue to seek lower cost, enhanced production and more efficient solutions to the production of oil and gas."