LONDON, UK. Sun European Partners, LLP (“Sun European Partners”) today announces that one of its affiliates has acquired Applied Drilling Technology International Limited (“ADTI”), a leading offshore integrated turnkey and project management business focused on well design, construction and completion services primarily in the UK North Sea. The business was acquired from Transocean for an undisclosed value.
Established in the UK in 1991, ADTI has managed approximately 370 wells and 180 completions in Northwest Europe, with an emphasis on the UK Continental Shelf (UKCS). The company currently employs 84 highly skilled professionals and support staff, which allows its customers to completely outsource their offshore drilling and completion operations, while minimizing risks, adhering to the highest standards in QHSE and managing costs.
The company, based in Aberdeen, Scotland, operates its business through five segments: Turnkey Drilling, Turnkey Completion, Project Management, Decommissioning and Well Engineering Studies. The company maintains longstanding relationships with its customers which encompass operators of all sizes from majors to large independents to new entrants, including Hess, Tullow, Summit Petroleum, Premier, Sterling Resources, Ithaca Energy, GDF Suez and Xcite, among others.
Lionel de Posson, Vice President at Sun European Partners, said; “ADTI has deep knowledge of the UKCS market and has built an unrivalled and unique offering in turnkey solutions. The company has established a strong reputation in the market, underpinned by its best-in-class workforce who are all skilled operators in their specialist fields. ADTI is well positioned to take advantage of the positive market trends in the region and we look forward to working with the management team to explore further opportunities for growth in new products and geographies.”
About
Sun European Partners, LLP
Sun European Partners, LLP is a leading private investment advisory firm, combining the financial skills and resources of a traditional private equity firm with the operational insight and expertise of a world class operating team. The firm focuses on market-leading companies that can benefit from its in-house professionals, resources, and expertise in their efforts to materially improve operating performance. Affiliates of Sun European Partners, LLP have invested in more than 330 companies worldwide since 1995, with combined sales in excess of €35 billion.
