August 18 - Kristiansand, Norway based Pareto JGO Shipbrokers has acquired UK based offshore oil and gas, renewable energy and subsea cable industry specialist Derrick Offshore.

Derrick Offshore will continue to trade under its current name and trademark, with all of the current directors and shareholders remaining with the company, and with Sean Harvey continuing as ceo.

Founded in 1976, Derrick Offshore has offices in Guildford and Aberdeen in the UK.

Pareto JGO Shipbrokers, part of the Pareto group, provides shipbroking services in both the offshore and tanker markets, serving a wide range of ship owners, charterers and operators, both in Norway and worldwide.

Derrick Offshore said that the two companies' skills and client coverage, combined with the financing and capital markets skills of the Pareto group, should bring the opportunity to offer a more comprehensive service to both businesses' clients.

The deal also provides Pareto with a significant foothold in the UK market, particularly in Aberdeen, where the group has plans to expand its activities.