Weir Oil & Gas has entered into an agreement to acquire KOP Surface
Products, a provider of advanced pressure control wellhead technologies,
systems and services. KOP has a long history and leading market
positions in South East Asia, with an emerging business in the Middle
East.
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A conventional wellhead from KOP Surface Products (Photo: Business Wire)
KOP employs 450 people and is a provider of wellheads, surface trees,
valves, actuators and aftermarket services for the oil and gas industry.
The business is headquartered in Singapore and has a manufacturing
facility in Batam, Indonesia, in addition to a network of sales and
service offices in Malaysia, Thailand, Vietnam, Qatar, UAE, Saudi Arabia
and India. KOP's current management team will continue to lead the
business, reporting into Weir’s Oil & Gas division.
The acquisition is for an equivalent enterprise value of US$114m.
“We’ve admired KOP for some time. They have great technology and really
strong customer relationships in attractive markets. Weir Oil & Gas is
already a global leader in pressure pumping and through this acquisition
we’ll be able to expand our pressure control offering even further,
building on Weir’s traditional strengths in North America and the Middle
East,” said Paul Coppinger, Weir Oil & Gas President.
“We are delighted to be joining Weir Oil & Gas. This means we will be
able to better serve our customers by benefiting from being part of one
of the world’s leading engineering businesses with a strong record of
investing in innovative technology and customer service,” said Gordon
Cameron, Chief Executive of KOP Surface Products.
The acquisition is expected to complete in the third quarter of 2017.
About Weir Oil & Gas
Weir Oil & Gas provides superior products and service solutions, which
make our upstream customers more efficient. More customers choose our
pressure pumping solutions than any other. We provide well service &
stimulation pumps, flow control products and replacement expendable
parts from leading brands including SPM, Mesa and Novatech. Pressure
Control includes trusted brands such as Seaboard, which provides
wellheads, valves and frac trees, and Mathena, which delivers drilling
mud-gas separation equipment including chokes, separators, &
environmental containment equipment. Engineered mechanical and rotating
equipment repairs and upgrades, oilfield and drilling equipment repair
and certification, rapid prototyping of spare parts, robust asset
management and field engineering services, are delivered globally by
Weir Oil & Gas Services based in Dubai, UAE.
Weir Oil & Gas is part of The Weir Group PLC. Founded in 1871, Weir is
one of the world’s leading engineering businesses with 14,000 people
operating in more than 70 countries. Discover more at www.global.weir.
About KOP Surface Products
KOP Surface Products is a leading global supplier of surface wellheads,
surface trees, valves and actuators to the oil and gas industry. It
provides full life-of-field support to customers, including
installation, maintenance, rental and refurbishment services. Its client
list includes some of the largest names in the industry and its products
and quality programmes comply with the highest international standards.
Accreditations include: ISO 9001:2008, API Q1, API 6A, API 16A, ISO
14001 and OHSAS 18001. The business has leading positions across a
number of countries in Asia Pacific, including Thailand, Indonesia and
India, with a growing presence in the Middle East.
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