Italy’s Next Geosolutions (NextGeo) has acquired a controlling stake in fellow subsea contractor Rana Subsea, expanding its reach and capabilities in the offshore energy support segment.
The Milan-listed company, part of Naples-based Marnavi Group, has agreed to buy 75.4% of Rana Subsea. The shares were acquired from Nettuno Holding (55.8%) and Rana CEO Alessandro Buffa (19.6%). The deal, valued at €36.7m ($43m), is expected to close by September 2025. Buffa will remain in place as CEO.
Rana, based in Marina di Ravenna, has provided subsea and geophysical services since 1964. The company was a pioneer in saturation diving in Italy during the early 1970s and today operates mainly in the Mediterranean and West Africa. It employs around 90 staff, including more than 30 engineers.
Clients include major oil and gas players such as TotalEnergies, ENI, BP, Chevron, and ConocoPhillips, as well as offshore contractors like Saipem, Prysmian, DEME, and Ørsted.
NextGeo said the acquisition is aimed at strengthening its position across the full life cycle of offshore infrastructure, combining RANA’s subsea and diving expertise with NextGeo’s geoscience and construction support services.
“The integration will generate operational synergies and open new opportunities in markets where both companies already hold strong positions,” said Buffa.
NextGeo CEO Giovanni Ranieri added that the move is a “highly strategic operation” that will expand the company’s service portfolio and geographical footprint.
“This will allow us to improve operational continuity and diversify our revenues in line with our long-term growth strategy,” Ranieri said.
