Varel Energy Solutions has acquired Ace Well Technology (ACE), an international leader in the supply of oilfield casing, cementing and completion products.
This transaction strengthens VES’s portfolio of primary cementing equipment, many of which are uniquely patented technology, while expanding smart completions offerings supporting the offshore and premium market sectors.
Derek Nixon, president and CEO of VES says: ‘Varel Energy Solutions is extremely honored to add the extraordinary people and impressive high-performance culture of Ace Well Technology to our organisation. We exist to become the Industry’s Maker of consumable downhole products across the oil and gas and renewable energy sector. We are excited to service our customers more broadly in the offshore and smart completions markets through the proven and credible offerings within the ACE portfolio.’
Stian Anke-Hansen, CEO of ACE adds: ‘I am very excited by the opportunities this transaction will create for the employees and customers of Ace Well Technologies. Varel’s extremely strong global presence, commitment to customer service and robust balance sheet will create a platform for even faster growth of our products and people.’
