Background
Prior to Administration, MAATS Tech was a leading supplier of cable lay and flex lay vessel carousels and deck spread equipment globally, having supplied over fifty carousel and deck spread and deployment systems since its inception in 1989. With unmatched
experience and knowledge acquired over 30+ years in operation, the Company gained a reputation for its expertise and bespoke, solutions-oriented capability, establishing itself as a significant player in the offshore engineering industry.
An innovator in its industry, MAATS Tech won acclaim for pushing vessel engineering and capabilities boundaries beyond previous industry limits. Like its customers' vessels, the Company's solutions were custom-designed, offering bespoke,
high-quality and reliable engineering solutions, helping build the brand's strong reputation for reliability in adverse offshore conditions.
Enhancing its offering beyond equipment supply, the Company established several complimentary services,
including marine engineering, deck layout engineering, finite element analysis, on-site inspection, and equipment upgrade support.
Prior to Administration, the Company was a trusted supplier to many major offshore contractors, including Subsea 7,
Technip, Aker, J Ray McDermott and SBM. The Company also developed close relationships with several world-renowned shipyards, including IHC in The Netherlands, Bergen, Vard and Kleven in Norway, and HHI and DSME in South Korea.

Specialising in turnkey, ship-based carousel systems and acting as the main contractor for the design, build and installation of both on-deck and under-deck carousels and any associated loading and unloading equipment, MAATS Tech was a world leader in the supply of carousels for installation below deck. Before Administration, the Company supplied about 50 carousels in various sizes to around 30 different vessels throughout its illustrious history.
MAATS Tech worked closely with its clients to design deck layouts of the vessels on which its products are installed. The Company was also experienced in unique ship design for new-building or conversion, providing concept designs, full production drawings and supervision when the conversion or new build progressed to the shipyard phase.
The Company also had expertise in finite element modelling alongside its main projects, working closely with other disciplines to verify and develop new designs and working with customers to provide finite element analysis of the vessels associated with the carousels. MAATS Tech's expertise in finite element analysis also helped the Company secure consultancy work across various sectors, including marine, mining and aerospace.

In the financial year ending 30 September 2021, the Company generated revenues of c. £13.5m with a gross profit of c. £3.7m.
This opportunity offers a prospective buyer the chance to acquire the intellectual property assets behind a former leader in the offshore engineering industry.