Hamburg's Schulte Group has acquired a majority stake in TecHullClean (THC) of Singapore.

THC is an underwater inspection, repair and maintenance technology company that also has offices in Spain, Gibraltar and Ghana.

THC founder Paw Rene Jakobsen will be CEO following the transaction.

Jakobsen said: “The team at THC is proud that the Schulte Group has become our partner and we look forward to benefit from their global presence.

"We have already concluded licence agreements in Qatar, Brazil, Algeciras, Gibraltar and Ghana, and look forward to further expanding our innovative cleaning technology to other ports.”