Norway’s Knutsen Group has become the sole owner of offshore recruitment agency Level Offshore by buying out its partner DeepOcean for an undisclosed sum.
Level Offshore was founded in 2018 as a 50/50 joint venture between DeepOcean and Knutsen to source temporary and permanent personnel for DeepOcean and has since broadened its customer and contractor base.
“We have added many new customers and colleagues over the past years and believe that this ownership transition will enable us to further develop the business in the period to come,” said John Hauge, managing director of Level Offshore.
As part of the deal, the outfit based in Haugesund, Norway, and Aberdeen, UK, will continue to provide personnel to DeepOcean, and there should be no impact on the company’s current operations.
“Highly skilled and experienced offshore crew are essential to our operations, and we are certain that Level Offshore will continue to thrive under the stewardship of our long-term partner, Knutsen Group,” stated Ottar Mæland, DeepOcean’s chief operating officer.
Commenting on taking full ownership of Level Offshore, Knutsen’s chief of finance, Geir Tore Henriksen, said: “The company has grown steadily every year and 2024 constituted another record-breaking year in terms of revenues, backlog and staffed personnel. We look forward to continuing to support the Level Offshore team in their future growth plans.”
