WellConnection Enters UK Market with Independent Oilfield Services Buy
- Business & Finance
WellConnection Group, a Norwegian inspection, maintenance and repair (IMR) company, has acquired Peterhead-based Independent Oilfield Services (IOS) in a deal which marks their entrance into the UK market.
Following the acquisition, IOS changes name to WellConnection IOS.
WellConnection Group CEO, Rune Haddeland, said: “This is excellent news for both WellConnection Group and IOS. IOS has a strong and diverse customer base, a complementary business model and a collaborative culture that mirrors our own. This acquisition allows us to share knowledge and benefit from integrated technology, systems and processes. The combination will benefit both Well Connection’s and IOS’s existing client base in both markets and even more so those clients with operations on both UKCS and NCS. It also enables the group to provide new service offerings to our combined existing client base and the wider UK market place with our Hydrocleaning and NORM (Naturally-Occurring Radioactive Materials) cleaning services.”
Glynn Geddie, managing director of IOS added: “We are excited to becoming part of WellConnection Group. The company is an expert in its field and boasts excellent facilities, making this a huge opportunity to extend our offering for new and existing customers in the UK and internationally. Our existing workforce will all be very much with us on this new chapter of the business, and we look forward to expanding the team over the coming months.”
Geddie will transition into the role of CEO of WellConnection IOS and continue to manage their operations from the Peterhead facility.