Newly formed Circle Group has acquired Stavanger WellPartner, an equipment and services company servicing the Norwegian subsea, completion and intervention markets.
The deal is Circle Group’s first acquisition and the foundation for the Well Service division, said backer HitecVision.
WellPartner was set up in June 2008 as a consulting company, and has since developed into a technology-focused subsea well access and intervention specialist. The company consists of three main businesses; WellPartner Products, WellPartner Services and WellPartner Consulting.
WellPartner Products has through extensive knowledge of marine riser operations, well access and downhole operations, launched several niche products with growth potential in the market. The product portfolio consists of a mix between commercialized products and products under development.
WellPartner Consulting offers qualified resources within subsea well service, completion and intervention operations. The personnel have broad operational experience from major oil companies.
WellPartner Services offers a variety of services to increase efficiency and HSE performance during subsea well service, completion and intervention operations. The employees are specialized on subsea developments and can supply equipment, experience and knowledge to enable such operations.
The transaction is scheduled to be closed in December 2014.