UK: O&G performance improvement specialist goes through management buy-out
- Business & Finance
UK-based offshore oil & gas performance improvement specialist, Salos Sunesis, has recently carried out a management buy-out with the ownership of the company switching to the managing director.
Salos said that, as a result of the buy-out, director Grant Wallace took ownership of the Aberdeen-based company from its founder Ty Crandall.
The company was formed 21 years ago and during this time assisted in the delivery of over 70 high-pressure high-temperature (HPHT) wells around the world. Salos also delivers auditing, coaching, and training to its clients.
The new owner, Wallace, joined the business in 2013 and increased the company’s service offering which now includes managed pressure drilling (MPD) project services.
Apart from taking over the company, he also brought in Bob Dickson onto the senior management team as the company’s operations manager. Dickson held senior positions such as subsea wells manager with Talisman and has over 35 years’ experience in the industry. He managed projects in the North Sea, Middle East, Russia, Norway, and North Africa.
Regarding the recent changes in the company, Wallace said: “The MBO (management buy-out) has allowed the team to build on the last two decades of expertise. We are very positive about the future potential of the business, and with increased enquiry levels we are seeing strong signs of the sector recovering.
“Bob’s appointment is another indication of our drive and ambition to grow the company by focusing on delivering value and assurance to our clients. He brings a wealth of expertise and insight to the team and more importantly our clients to enhance performance at the well site.”