Earlier this month, the subsea marine service company wrapped up a $2.625 million takeover of Perth-based Allied Diving Services. Two months before, the company announced it was acquiring Territory Diving Services for $3 million.

In a statement today, Neptune said the acquisition of Link would add about $12 million in annual revenue. The acquisition would also add specialist engineering capabilities to Neptune’s business.

Link has contracts with “all the leading” petroleum companies operating in Australia, as well as an “active pipeline” of projects currently underway, according to Neptune managing director Christian Lange.

“Link Weld is an excellent strategic fit with Neptune and brings to the company specialised engineering capabilities that will broaden our service offering to the oil and gas sector, both onshore and offshore,” he said.

“A number of Neptune’s projects require specialised engineering and welding services, which we currently outsource. Link Weld brings these services in-house, further streamlining the delivery process for customers.”

Under the deal, Neptune will pay $4 million upfront for the company, as well as the value of Link’s plant and equipment work in progress. A further $3 million “good will” payment will also be made to Link over the next three years.

In addition, the company’s founder Nino Amato, who has over 25 years engineering experience, will stay on to continue driving its expansion.

“Nino’s skills will be invaluable as we continue to build Neptune’s presence in key oil and gas markets,” Lange said.