Köfunarþjónustan ehf. was founded in 1998 to provide a range of diving services. Over the years the company expanded into both surveying and special projects and in 2021 Köfunarþjónustan acquired the business operations of Króli ehf., a local supplier of floating breakwaters and concrete pontoons. Króli ehf. had represented SF Marina and been selling its products in Iceland since the 1980s.