Aberdeen-based Ramco Tubular Services, provider of tubular services to the oil and gas sector, has acquired a controlling interest in Norwegian-based Pipetech International AS.
Pipetech provides advanced and environmentally friendly water-based cleaning technologies to the North Sea oil and gas and petrochemical industries.
The company has a suite of high-pressure water technologies that remove scale and debris from pipelines safely and without the need for environmentally harmful chemicals.
The technologies - Aqua Sonic and Aqua Milling - are operated remotely, which also greatly enhances safety and means the pipework can be cleaned in position.
This, coupled with the capability to reach down to 500 m from a single entry point, hugely reduces setup requirements and downtime.
Ramco expands its pipe services
The acquisition will significantly enhance Ramco’s offering to clients. With Ramco’s support, Pipetech will now establish a permanent presence in the UK and look to increase its business in the offshore sector.
In addition to the Pipetech investment, Ramco has also announced the appointment of Lindsay Young as its International Business Development Director. As well as helping further internationalise Ramco’s business, Lindsay will also be responsible for driving the growth of Pipetech in the UK.
Lindsay has extensive knowledge of the oil and gas sector through previous roles as Managing Director of Offshore Solutions BV and UK Operations Director for RBG. He will work closely with May Britt Lilletvedt, the CEO of Pipetech International AS. Both Lindsay and May Britt will join the Ramco Board.
Malcolm Edward, CEO of Ramco, commented, “Through the acquisition of Pipetech, Ramco will be able to expand the range of tubular and pipe services. Pipetech has already demonstrated in Norway that it can offer a highly valuable solution to its customers in helping solve problems and reduce shutdown time and, in turn, costs.
“We look forward to working with the Pipetech team to help grow the business further both in Norway and internationally. The acquisition and appointment of Lindsay and May Britt to the Ramco board represents an exciting stage in Ramco’s continued growth.”
L-R, Mark Kerr (LDC) May Britt Lilletvedt (Pipetech) Malcolm Edward (Ramco) Lindsay Young (Ramco).
Ramco was acquired by LDC, the UK’s leading mid-market private equity player, and part of Lloyds Banking Group, in March 2013.
Mark Kerr, LDC’s Director of Oil and Gas, said: “When LDC announced our initial investment in Ramco last year, we said then that we looked forward to growing the business. This Pipetech acquisition is a significant step in helping realise the full potential of one of the sector’s most exciting companies.”
Edited from various sources by Elizabeth Corner
Read the article online at: https://www.oilfieldtechnology.com/drilling-and-production/18032014/ramco_acquires_pipetech/