Established in 2011 and headquartered in Perth, Australia, Subcon provides innovative stabilisation, coastal erosion and engineered reef solutions to the oil and gas, offshore wind, coastal infrastructure and tourism sectors both in Australia and internationally.

The acquisition supports MMA's growth objectives and is expected to generate a number of key strategic benefits.

MMA's managing director, David Ross, said: "The acquisition of Subcon is an exciting development for MMA and is strongly aligned with our strategy to extend and diversify our service offering in a sustainable manner. The acquisition enhances our service offering to our existing oil and gas and offshore wind markets by combining our capability, whilst Subcon also bring a number of new solutions to expand our reach into coastal erosion management and the tourism sectors.

"I am confident that the Subcon business can thrive under MMA's ownership and look forward to jointly developing and growing the business with the Subcon team."

Integration of the business will commence immediately upon completion with the Subcon business to become part of MMA's Subsea Services division.

The current Subcon team will continue with the business including Subcon's founder, Matthew Allen and CEO, Cameron Stirling who will both be instrumental in continuing to lead and grow the business under MMA's ownership.