OCB Oilfield Services (OCB), a Gulf Capital portfolio company, has announced its 100% acquisition of Kuiper International.
The acquisition of Kuiper International, which was completed last week, is OCB’s first and is part of a four year expansion plan to increase its business value by 300%.
The acquisition has almost doubled the size of OCB, and extended both its geographical coverage as well as service offerings to its client base.
“By partnering with Kuiper in what is currently a very tough market, with lows of under $30 a barrel, we are looking to provide both existing and new customers with the benefits of our economies of scale and deliver the most cost effective solutions for their crew management needs,” George Gourlay, chief executive officer of OCB, said.
OCB’s completed projects are spread across the Middle East, South East Asia and the Indian Sub-Continent. OCB’s 7,000-strong crew, work for global drilling contractors operating vessels in shallow and deep waters across these regions.
“We are delighted to join the OCB family. Doing so means we join a leading provider of specialty manpowered services, and becoming a part of this growing company will allow us to provide our own services to a broader set of customers in the markets OCB serves,” Harry Somic, managing director of Kuiper, added.
The acquisition gives OCB a stronger foothold in the fast-growing APAC region and Australia, where KI is rooted in.
