Menu icon

Maats Tech


Hilco Streambank (“Hilco”) is seeking offers to acquire the intellectual property assets of MAATS Tech Limited (In Administration) (“MAATS Tech” or the “Company”) on behalf of the Joint Administrators of the Company, Gareth Rutt Morris and Matthew Whitchurch of FRP Advisory Trading Limited.



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.

Maats 1

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.

Maats 2

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.

Available Assets

The MAATS Tech Brand

The MAATS Tech brand is highly regarded and extremely well-known. Established in 1989, the Company consistently operated under the MAATS Tech brand name, which soon became synonymous with quality in the market.

The MAATS Tech brand was borne out of a desire to create solutions for subsea engineering that challenged the norm and pushed the boundaries of classic subsea lay systems, an ethos at the heart of MAATS Tech that aims to distinguish itself from its competitors.

The brand attracted a loyal client base with strong ties to key players across various industries and sectors.The brand is synonymous with high-quality products and excellent customer service and has established long-standing relationships with its diverse customer base.

The Company is highly awarded, having been named Company of the Year at the Subsea Expo Awards in 2022 and receiving Total Publication’s International Project of the Year Awarded in 2021.

The Company has been built on the strength of its reputation, bolstered by its features in key industry publications such as Energy Industry Review, Offshore Engineer Magazine and World Pipelines.

Trade Marks

The Company holds unregistered trade marks covering the “MAATS Tech” brand name and logo, as below:

matts small

Patent Portfolio

The Company’s patent portfolio protecting its variety of unique offshore engineering solutions is available to acquire, comprising a host of granted patents and pending patent applications across a wide range of territories.

A full schedule of the Company’s granted patents and applications is available via a virtual data room.

Organisational Knowledge, Drawings and Design Files

The Company holds an extensive suite of design files and drawings relating to an array of recent and historic projects dating from its incorporation to its time of Administration, comprising an estimated c. 100k individual drawings and designs.

The Company was also highly accredited, having received ISO 9001 and FPAL certifications (amongst others) and having been recognised by the Institute for Mechanical Engineers (IMechE), the Royal Institution of Naval Architects (RINA) and the Institution for Engineering Technology (IET). The Company holds the relevant documentation behind its various certifications and accreditations, along with relevant brochures, training documentation and installation instructions/materials.

Client Data

The Company holds a database of c. 660 client records, capturing critical data such as names and contact details. The Company’s valuable client database is available to acquire.

Supplier Data

The Company maintained a supply chain database, capturing its c. 460 suppliers, also available to acquire.

Domain Name and Website Content

The primary domain name is available to acquire, along with the variation.

The Company owns the copyright in the website content hosted at, showcasing the Company’s engineering solutions, past projects and case studies and containing a depth of rich content and imagery.

Social Media Accounts

Rights in the social media accounts are also available to acquire across LinkedIn, Instagram and YouTube. A full social media schedule is available via a virtual data room.

For details on the MAATS Tech stock and equipment sale, please contact Andy Hancock of Hilco (

Sale Process

All expressions of interest and bids are to be directed to Hilco in writing. A Bid Submission Form is available on request. Please contact Hilco to gain access to a virtual data room of further information on signing a confidentiality agreement.

Key Terms and Conditions

The Joint Administrators act as an agent of the Company and without personal liability.

The bidder acknowledges that Hilco acts as an agent for the Joint Administrators who offer for sale only what right, title and interest (if any) the Company possesses in the assets. Such sale will be without any warranties, expressed or implied. The information provided has not been verified by Hilco or the Joint Administrators and bidders are deemed to have carried out their own due diligence.

VAT, if applicable, at 20% will be added to the price. A non-refundable deposit of 20% will be payable by the buyer within 48 hours of bid acceptance. A buyer’s premium of 10% of the sale price is payable by the winning bidder. Legal completion to occur within 5 business days of bid acceptance. Hilco’s full Terms and Conditions apply.

To register your interest and for further information about the sale process, please contact the following Hilco Streambank representatives:

Contact Us

Let’s connect and work together

If your business or a business in your portfolio is facing a current challenge, our team can provide a qualified perspective and experience-based guidance toward an optimized resolution.
Contact us