UWG Group acquires MENCK
Posted: 2 September 2003
UWG Group, a leading innovator in Deepwater Riser Solutions, Well
Systems and Well Decommissioning strengthened its product offering
by acquiring MENCK GmbH, the German-based anchoring and foundations
specialist from J Ray McDermott SA.
MENCK is already a highly successful and financially strong international
market leader in anchoring and foundation solutions. It has been
at the forefront of innovation in the pile driving industry since
the company¹s formation in 1868.
UWG Group's Sales & Marketing Director, Paul Alcock, said:
"We have historically focussed on providing innovative engineering
and equipment for Risers and Wells between the mudline and surface
facilities.
MENCK's expertise in foundations supports our long-term strategy
to offer complete mudline-to-facility solutions for all water depths
and field applications.
As we can offer the full-cycle of engineered interface solutions
from design to decommissioning, this recent development is good
news not only for us, but for the industry as a whole.
It is intended that the MENCK brand will continue unchanged and
sit alongside UWG Group's other established member companies 2H
Offshore, Team Energy Resources, Claxton Engineering Services and
WellCut, Inc.
Bernard Bruggaier will continue as Managing Director of MENCK,
reporting to Richard Higham, CEO of UWG Group. Based in Hamburg,
Germany, MENCK currently employs approximately 70 staff.
UWG Group Limited was advised by KPMG Corporate Finance and Eversheds
Solicitors, with funding provided by Bank of Scotland Corporate
Banking Aberdeen. Lime Rock Partners is an equity investor in UWG
Group.
About UWG/MENCK
- The acquisition of MENCK by UWG Group has been made for an undisclosed
sum
- MENCK designed and built the world¹s first hydraulic hammer
capable of operating underwater. In 2001 MENCK broke its own pile
driving depth record with the installation of piles at 3,890 ft
on the Boomvang-Nansen Spar development.
- UWG was recently awarded a Queen¹s Award for Enterprise:
Innovation 2003 for the Suspended Well Abandonment Tool (SWAT)
- This is the second major acquisition for the UWG Group this
year. In May UWG strengthened its well decommissioning portfolio
by acquiring the technology and assets of Hydrodynamic Cutting
Services (HCS) in Lafayette, USA, renaming it to form WellCut
Inc.
- UWG Group member companies include UWG Ltd, Team Energy Resources
Ltd, Claxton Engineering Services Ltd, 2H Offshore and WellCut,
Inc.
For fmore information see www.uwggroup.com.
Posted by Richard Price,
Editor Pipeline Magazine
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