Ardyne Technologies Limited, the UK-based oilfield services company, and a portfolio company of Lime Rock Partners, the US-based private equity firm, has acquired Wellbore AS, the Norway-based oil service company specializing in the downhole service segment, for an undisclosed consideration.
Wellbore has approximately 29 employees and reported revenues of NOK 95m (EUR 10.53m) in 2014. The transaction will enable Ardyne to establish its business. Pursuant to transaction, the current management team of Wellbore will continue to run the company and its facilities in Norway.
Lime Rock Partners launched Ardyne Technologies Limited with a backing of GBP 50m.
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