French firm Altrad is set to acquire Aberdeen-headquartered energy services company Stork.
The deal is set to conclude in the third quarter of this year, and will see 1,800 workers - 85% of whom are based in the North-east - move into the new group.
The move comes just 18 months after the French company acquired Sparrows, which saw 2,000 people move into the group.
Ran Oren, joint Chief Executive Officer of Altrad, said: "Another important step in our development, strengthening our North Sea offering and also diversifying our activities further for the benefit of our customers and staff.
"We continue to invest in businesses that share our excitement, vision and values and a desire to add enhanced value to our clients.
"This transaction will bring approximately 1,800 talented people into the Altrad Group, where they will be valued and encouraged to develop fulfilling and rewarding careers."
Stork's entire team is expected to be retained with no redundancies expected.
Altrad’s CEO for the UK, Ireland, Nordics & Poland, John Walsh, said: "We are delighted to welcome Stork UK into the Altrad family. The acquisition represents a wonderful opportunity to extend our portfolio of services in the United Kingdom offshore sector, whilst enhancing the outcomes we deliver for our clients."
Altrad currently operates in more than 50 countries, employing around 60,000 people globally.
Steve Hunt, Regional Director of Stork UK, added: "We are extremely pleased to be joining Altrad and are confident our business will be well positioned to grow and develop at pace under the new ownership structure. We believe our collective capabilities, shared vision and values will be attractive to our clients, our people, and the communities within which we work."
The total value of the deal has not yet been disclosed but Fluor, the US owner of Stork, had been hoping to sell in 2022.