WellConnection Group Prepares for Futher Growth with UK Expansion
WellConnection Group, the leading Norwegian inspection, maintenance and repair services (IMR) company, has expanded its UK headquarters in Peterhead, Scotland.
The investment has been made in response to increasing customer demand, which has seen business growth of 35% in the past year and is expected to continue in the long-term.
The seven acre expansion will include the very important creation of a bonded area to accommodate the European Commission safeguard measures on imported steel. This will ensure a safe and efficient supply of OCTG to the UKCS for customers.
WellConnection continues to invest in its Peterhead site following the acquisition of Independent Oilfield Services (IOS) in January 2019. As a UK leader in IMR services, bringing IOS into the WellConnection Group marked the Norway-based company's entrance to the UK market, and presented a strong platform for sustainable, continued growth.
Glynn Geddie, CEO of WellConnection IOS, welcomed the investment. He said: "Being part of WellConnection Group has been a huge boost to the IOS growth strategy, anf has created an additional level of support as we look to achieve our strategic ambitions in the UK and internationally. Integrating IOS into the group over the last few months has been an interesting and exciting time for us, and this investment signals the strong growth potential that WellConnection sees for its UK operations."
Rune Haddeland, Chief Executive Officer of WellConnection Group, added: “We believe this investment in our Peterhead site is crucial in allowing WellConnection to make real progress as a major international provider in the IMR services market. This move is key to building our presence and profile in the UK and achieving further growth planned for the future of WellConnection.”
WellConnection Group is a portfolio company of EV Private Equity, a global Oil & Gas specialist investor with offices in Stavanger, Houston and Aberdeen.
For more information visit www.wellconnection.no
Visit source siteNorth SeaNorwayUnited KingdomUnited Kingdom Continental ShelfIMRPeterheadScotlandbusiness expansiongrowth