FORT WORTH, Texas and SINGAPORE (July 28, 2017) – Weir Oil & Gas, a leading upstream provider of pressure pumping and pressure control equipment and services, today announced it has completed its acquisition of KOP Surface Products, a provider of advanced pressure control wellhead technologies, systems and services. The acquisition, announced in mid-June, reflects Weir’s commitment to global expansion, with a significant focus on Asia Pacific.
The value of the acquisition is for an enterprise value of US $114 m.
“Since opening the first wellhead manufacturing facility in Dubai’s Jebel Ali Free Zone a short while ago, we have continued to expand our global reach by supporting our customers, no matter where the job takes them,” said Paul Coppinger, Weir Oil & Gas President. “Our ability to manufacture products nearby is only part of the equation. We must continue to support customers through the service and products we provide. Acquiring KOP underlines that commitment and strengthens our promise to operators in this vital region.”
KOP has a long history and leading market positions in South East Asia, with a strong emerging business in the Middle East. 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.
“From a technology, service and talent standpoint, this is an excellent fit and we look forward to our future together as a combined organization,” said Gordon Cameron, Chief Executive of KOP Surface Products. “We see this as a substantial opportunity to offer more to our customers and prospects in the region. No doubt, we are stronger together.”
Cameron will continue to serve as
Cameron will continue to serve as President and report into Paul Coppinger, President of the Oil & Gas Division.
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.
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. 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.