Impact Selector and Wireline Engineering Announce Strategic Combination
Partnership brings together leaders in providing risk mitigation solutions for well evaluation and intervention operations
ABERDEEN, Scotland and DALLAS, Texas, July 6, 2015 – Impact Selector and Wireline Engineering today announced the companies are joining forces through a strategic transaction. The combination brings together industry leaders in the design, development and deployment of the most technically-innovative products and solutions for mitigating risks during well evaluation and intervention operations. With locations in the United Kingdom, United States, Southeast Asia and the Middle East, the combined company is positioned to serve its global oil and gas industry customers in the most actively producing regions throughout the world. The senior management team of Wireline Engineering, including directors Alan Gordon, Alistair Inglis and Don Mitchell, are joining Impact Selector following its acquisition of Wireline Engineering.
“The combination of Wireline Engineering and Impact Selector perfectly aligns with our vision of being the most reliable and trusted provider of conveyance technology solutions that mitigate risk, enhance efficiencies and improve safety for customers working in the oil and gas industry worldwide. This new partnership of employees, products, services, and locations further expands our capabilities to provide operating efficiencies and cost saving solutions to our customers,” said Mr. David Lane, President and CEO of Impact Selector.
“It is highly unusual when two companies come together for there to be such a complementary fit – both in terms of their current organization and future strategy,” said Mr. Alan Gordon, Managing Director of Wireline Engineering. “I am convinced the combined business will allow us to add even more value to our customers and provide new opportunities for all our staff.”
Mr. Todd Tomlin, partner of Turnbridge Capital, commented: “We feel very fortunate to be partnered with the expanding Impact Selector and Wireline Engineering teams. In December of last year, we had the opportunity to join with the managers and employees of Impact Selector in the recapitalization of their company. Together, our goals include further product line growth and geographic expansion. The combination with Wireline Engineering accelerates the pursuit of these strategies, and we are very excited about the product and market strengths now resident in the combined company.”
Johnston Carmichael served as financial advisor to Wireline Engineering, and Pinsent Masons provided legal counsel. Burness Paull and Jones Day are legal counsel to Impact Selector. Turnbridge Capital and Amegy Bank provided additional funding in support of the transaction. The transaction was completed on June 30, 2015.