Garware Technical Fibres Limited (GTFL), a global player in technical textiles, has announced that its United Kingdom subsidiary, Garware UK, has signed a Share Purchase Agreement to acquire Offshore & Trawl Supply AS (OTS), a Norway-based company specialising in advanced synthetic rope solutions for offshore oil and gas, aquaculture and commercial marine sectors.
The acquisition is a key move in GTFL’s strategy to grow its international presence and diversify its product range in the offshore and aquaculture industries. Based in Valderoey, near Ålesund, OTS is known for its high-performance synthetic rope offerings and strong reputation across northern Europe, particularly in the North Sea market.
“This acquisition marks a key milestone in Garware's global growth trajectory and reinforces its commitment to delivering innovative, high-performance solutions to customers around the world,” said Vayu Garware, chairman and managing director at GTFL, in a press release.
A Strategic Investment
OTS’s product portfolio will complement GTFL's existing capabilities while opening up new geographies, customer segments and applications for mutual growth.
"OTS is known for its engineering excellence and industry-leading solutions in Norway. Together, we can expand its global reach and accelerate innovation in this area," said Garware.
OTS, led by chief executive officer Stein Frode Dulling-Ness and founder Rolf Arne Gtskeadegard, has established itself as a key supplier in Europe’s rope solutions market. Speaking about the acquisition, Dulling-Ness said, "We are excited to continue building on the strong foundation established by Rolf and the OTS team and to continue their legacy on a global platform."
Headquartered in Pune, India, GTFL is a long-established manufacturer of engineered polymer solutions, with applications spanning aquaculture, fishing, geosynthetics, sports and industrial sectors.
