Hunting buys Enpro Subsea for $33m

Energy services group Hunting on Friday said it had bought Enpro Subsea for $33m from members of the Enpro management team and Energy Ventures Private Equity.

Hunting said the deal would be funded from existing cash resources and includes a potential maximum earn out of $3m based on earnings performance in 2020.

Enpro was founded in 2011 and makes subsea production technology for offshore oil and gas operators.