Houston, TX, August 2013 – SCF Partners and company management have sold the Reservoir Group, an SCF Fund VI investment, to ALS Limited (ASX: ALQ) for a total consideration of approximately US$533 million (AU$579 million). Reservoir Group is a global provider of specialist oil and gas services and equipment that assists with the evaluation, development and optimization of oil and gas discoveries. Reservoir Group operates five segments: Coring; Laboratory Analysis; Surface Logging; Downhole Tools and Specialist Well Services. Services and equipment provided by Reservoir Group assist with understanding, planning, accessing and optimizing reservoir potential.
Reservoir Group has a global presence with major hub operations in Aberdeen, Dubai, Houston and Edmonton, operational infrastructure in approximately 40 sites covering key oil and gas provinces and over 900 employees. The business enjoys long-term relationships with a strong customer base of national and international oil companies, independent oil companies and global service providers to the oil and gas industry.
SCF Managing Director, Andy Waite stated, “I cannot thank Pascal Bartette and his management team enough for their tireless efforts over the past six years. Pascal has proved himself to be an outstanding entrepreneur, CEO and partner and we are grateful to have had the opportunity to partner with this management team to achieve this excellent result for all parties. We are excited that Reservoir Group can be an integral part of ALS’s oil and gas strategy and have every confidence that the Reservoir Group management team will continue their successful track record as part of ALS.”