FET Acquires Dynacon
Forum Energy Technologies, Inc. (NYSE: FET) acquired Dynacon, Inc.
Dynacon is a provider of launch and recovery systems (LARS) used for deployment of remotely operated vehicles (ROVs) and also manufactures high quality, specialized cable and umbilical handling equipment for all segments of the marine industry. Dynacon’s Bryan, TX location employs more than 100 people and consists of 82,000 sq. ft. of manufacturing and office space and 40,000 sq. ft. of specialized test area located on 16 acres.
Cris Gaut, Forum’s Chairman and CEO, said, “Dynacon expands our Subsea Technologies capability and integrates an important part of the ROV supply chain. We plan to continue Dynacon’s long legacy of providing top quality systems to its customers, while investing in the company’s facility in Bryan to expand capacity. We welcome all of the employees of Dynacon to Forum.”