The Crosby Group acquires Feubo

Published by Nicholas Woodroof, Editor
Oilfield Technology, Wednesday, 15 January 2020 14:00

The Crosby Group, a manufacturer of lifting, rigging, and material handling hardware, has completed the acquisition of Feubo, a provider of offshore mooring components for the oil and gas and wind energy markets. Financial terms of the transaction have not been disclosed.

The acquisition, effective 14 January 2020, includes the Feubo facility located in Hattingen, Germany, which will become Crosby’s centre of excellence for mooring components, as well as a key engineering and innovation centre.

Oliver Feuerstein, CEO of Feubo, will continue to lead the Feubo team and operation.

Robert Desel, CEO of Crosby, said: “We are thrilled to expand our offshore product portfolio and end market reach with this acquisition. Feubo’s position as a leader and innovator in mooring components, and the opportunity to leverage its world-class engineering and innovation competency, made this a compelling addition to Crosby.”.

Feuerstein added: “This is an exciting new chapter for Feubo, its employees, and customers. With Crosby’s global presence we can increase our reach and increase the pace of innovation. We look forward to joining the Crosby team, who share the same values as us—safety, reliability, and innovation.”.

Read the article online at: https://www.oilfieldtechnology.com/offshore-and-subsea/15012020/the-crosby-group-acquires-feubo/

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