Partnership brings together leaders in providing risk mitigation solutions for well evaluation and intervention operations.
Aberdeen, Scotland and Dallas, Texas, July 6, 2015 – Impact Selector and Wireline Engineering today announced the companies are joining forces through a strategic transaction. The combination brings together industry leaders in the design, development and deployment of the most technically-innovative products and solutions for mitigating risks during well evaluation and intervention operations. With locations in the United Kingdom, United States, Southeast Asia and the Middle East, the combined company is positioned to serve its global oil and gas industry customers in the most actively producing regions throughout the world. The senior management team of Wireline Engineering, including directors Alan Gordon, Alistair Inglis and Don Mitchell, are joining Impact Selector following its acquisition of Wireline Engineering.
“The combination of Wireline Engineering and Impact Selector perfectly aligns with our vision of being the most reliable and trusted provider of conveyance technology solutions that mitigate risk, enhance efficiencies and improve safety for customers working in the oil and gas industry worldwide. This new partnership of employees, products, services, and locations further expands our capabilities to provide operating efficiencies and cost saving solutions to our customers,” said Mr. David Lane, President and CEO of Impact Selector.
“It is highly unusual when two companies come together for there to be such a complementary fit – both in terms of their current organization and future strategy,” said Mr. Alan Gordon, Managing Director of Wireline Engineering. “I am convinced the combined business will allow us to add even more value to our customers and provide new opportunities for all our staff.”
Mr. Todd Tomlin, partner of Turnbridge Capital, commented: “We feel very fortunate to be partnered with the expanding Impact Selector and Wireline Engineering teams. In December of last year, we had the opportunity to join with the managers and employees of Impact Selector in the recapitalization of their company. Together, our goals include further product line growth and geographic expansion. The combination with Wireline Engineering accelerates the pursuit of these strategies, and we are very excited about the product and market strengths now resident in the combined company.”
Johnston Carmichael served as financial advisor to Wireline Engineering, and Pinsent Masons provided legal counsel. Burness Paull and Jones Day are legal counsel to Impact Selector. Turnbridge Capital and Amegy Bank provided additional funding in support of the transaction. The transaction was completed on June 30, 2015.
For further information, please contact:
David Lane, President and CEO
Impact Selector International, LLC
+1 (469) 402-2700
About Impact Selector International, LLC
Impact Selector provides the global oil and gas industry with proprietary technology and tools that significantly improve operating efficiencies and greatly reduce major, costly operating risks. ISI’s suite of Intelligent Conveyance Technologies® includes ImpactPro® modeling software, open hole and cased hole wireline jars, wireline standoffs, and roller systems. Impact Selector is owned by its management team in partnership with Turnbridge Capital. For more information, visit www.impactselector.com.
About Wireline Engineering Limited
Wireline Engineering specializes in creating products that allow well intervention tools to be deployed and operated efficiently in deviated and difficult wells. The company’s Roller Bogie® tools are used and trusted by more than 200 customers in nearly 60 countries to reduce operational complexity and costs. For more information, visit www.wireline-engineering.com.
About Turnbridge Capital Partners
Turnbridge Capital is an energy-focused private equity firm with offices in Dallas and Houston, Texas. Turnbridge seeks to invest alongside experienced management teams in companies that provide products and services to the upstream, midstream and downstream energy market segments. For more information, visit www.turnbridgecapital.com.