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ROVOP
Global provider of subsea remotely operated vehicle services
About ROVOP
ROVOP is a global specialist in subsea remotely operated vehicles (ROVs), providing equipment and expert personnel for subsea operations. The company serves a diverse client base across the oil and gas, offshore wind, power transmission, and telecommunications industries. Its business model revolves around supplying and operating a technologically advanced fleet of ROVs for various underwater tasks, including construction, survey, inspection, repair, and maintenance.
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Founded in 2011 by Steven Gray, Scott Freeland, and Mark Vorenkamp, ROVOP started in a small office and grew into one of the largest independent ROV operators globally. Gray, with a background as a corporate lawyer and private equity investor in the energy sector, identified an opportunity to apply new ROV technology that was not being widely used in the industry. The company established its headquarters in Westhill, Aberdeenshire, a hub for subsea engineering. Early funding from entities like the Royal Bank of Scotland, the Scottish Loan Fund, and Scottish Enterprise helped the company acquire its initial ROV fleet and expand internationally. Over the years, ROVOP has expanded its fleet significantly through acquisitions and investments. By 2024, the company was acquired by the US-based Edison Chouest Offshore group, a move that provides access to a global network and a fleet of over 200 offshore vessels, enhancing ROVOP's international reach in markets like Houston, Singapore, and Dubai. This acquisition brought the combined group's fleet to over 100 ROVs and six autonomous underwater vehicles (AUVs).
ROVOP's services are crucial for operations in challenging subsea environments, such as deepwater and offshore wind farms. The company's fleet includes various classes of vehicles, from smaller observation units to heavy-duty deepwater work-class systems. Revenue has shown strong growth, with a significant portion now coming from the renewable energy sector. For the nine months ending December 31, 2024, the company reported a pre-tax profit of £13.3 million on a turnover of £54.4 million. Keywords: subsea robotics, remotely operated vehicles, ROV services, offshore energy, offshore wind, oil and gas, subsea construction, subsea inspection, subsea maintenance, underwater technology, energy transition, cable lay support, decommissioning, ROV operator, subsea survey, deepwater operations, asset integrity, robotics services, marine technology, offshore operations
At a glance
- Founded
- 2011
- Headquarters
- Aberdeen, United Kingdom
- Sector
- Robotics
- Power Law
- Colt$25–100M revenue
Latest news
Press, funding announcements and product moves mentioning ROVOP.
Investors
From Dealroom's funding and investor records, grouped by the round each investor first entered.
Series B and later4 investors entered at this stage
Maven Capital Partners
Business Growth Fund
Blue Water- CCCordiant Capital
Source: Dealroom Talent Intelligence.
Global footprint
team presence
across markets
Market sentiment
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