Weir Oil and Gas announced that it has acquired KOP Surface Products, Asia’s leading oil and gas technology provider, for US$114mn, with the acquisition expecting to be completed in the Q3 2017
Weir Oil and Gas is a part of the Weir Group PLC, and has its strong presence in North America and Europe.
The company is a global provider of well service and stimulation pumps, flow control products and replacement expendable parts in the oil and gas industry from the leading brands including SPM, Mesa and Novatech.
Commenting on the acquisition, Weir said that the acquisition of KOP Surface Products will complement and add value to Weir’s portfolio, while strengthening its position in providing pressure control solution even further.
KOP designs and produces wellheads, surface trees, valves, actuators and aftermarket services for the oil and gas industry. The Singapore-based firm, with a leading market position in South East Asia and emerging businesses in the Middle East, provides employment to 450 people overall.
With a manufacturing facility in Batam, Indonesia, KOP has a network of sales and service offices in Malaysia, Thailand, Vietnam, Qatar, UAE, Saudi Arabia and India.
As per the deal, KOP's current management team will continue to lead the business, reporting into Weir’s Oil and Gas division.
“We are delighted to be joining Weir Oil and Gas. This means we will be able to better serve our customers by benefiting from being part of one of the world’s leading engineering businesses with a strong record of investing in innovative technology and customer service,” said Gordon Cameron, CEO of KOP Surface Products.
