Houston, TX, January 2012 – Surtron Technologies and Vause Oil Production Services have joined together to create a diversified energy and minerals services provider throughout Australia and New Zealand. Perth-based Surtron provides logging and directional drilling services to the mining, minerals and coal seam gas sectors across Australia and in Africa, while Vause provides oil and gas wireline, well testing and production services in New Zealand and Eastern Australia.
The merger, which brings the companies into the newly created Vautron Group, will give the companies new operational bases in different locations to allow for better servicing of customer needs.
Management in both Surtron and Vause are significant shareholders in Vautron and are being backed by investors SCF Partners and Perth-based Viburnum Funds. Viburnum Funds has been an investor in Surtron since the management buy—out from ASX listed Imdex Pty Ltd four years ago. Further strategic transactions are being considered which will add to the service offering of the group.
Shane Munyard, Managing Director of Surtron, commented that “The combination of Vause and Surtron brings together two teams of people with skills in fundamentally similar yet quite different (geographically and technically) markets; this amalgamation will add depth and present growth opportunities to both businesses, as well as meet a broader range of customer needs.” Shane also noted “Surtron’s history as part of an ASX listed company has left it with legacy of a strong corporate and administrative focus, which will now serve the combined group well.”
SCF and Viburnum look forward to working with the Vautron management team to further expand the services and geographic footprint of the Company and are pleased to partner with such a dynamic team. Peter Vause, the CEO of Vause noted that “The Vautron deal is the best of both worlds and allows us to retain our own successful unique operating culture. It is a growth machine and we will expand services and capability across Australasia and maybe further afield.”
Vautron Group (the “Company”) and SCF Partners (“SCF”), from time to time, provide estimates of financial and other data, comments on expectations relating to future periods and makes statements of opinion, view or belief about current and future events. Statements relating to future events and performance are “forward-looking statements.” Forward-looking statements are generally accompanied by words such as “estimate,” “project,” “predict,” “believe,” “expect,” “anticipate,” “potential,” “could,” “may,” “foresee,” “plan,” “goal” or other words that convey the uncertainty of future events or outcomes. Forward-looking statements are not guarantees of performance. The Company and SCF have based these forward-looking statements on its current expectations and assumptions about future events. These statements are based on certain assumptions and analyses made by the Company or SCF in light of their experience and their perception of historical trends, current conditions and expected future developments as well as other factors it believes are appropriate under the circumstances. Actual results may differ materially from those implied or expressed by the forward-looking statements. These forwardlooking statements speak only as of the date of this press release, or if earlier, as of the date they were made. By issuing estimates or making statements based on current expectations, opinions, views or beliefs, the Company and SCF have no obligation, and is not undertaking any obligation, to update such estimates or statements or to provide any other information relating to such estimates or statements. We caution you not to place undue reliance on any forward-looking statements.
For further information about Vautron, contact:
Tel: +61 8 9452 6800
+64 6 755 2187
For further information about Viburnum, contact:
+ 61 86 430-9888
For further information about SCF, contact:
Vice President, SCF Partners