Varel Energy Solutions (VES) announced the acquisition of Sledgehammer Oil Tools (“Sledgehammer”). It is an intelligent purchase as it is a world leader in supplying oilfield casing, cementing, and completion products.
The transaction is intended to strengthen further VES portfolio of cementing and lining products. So far, it has been driven by the Downhole Products legacy brand. This allowed them to continue to offer their customers high-quality, low-cost primary cementing equipment.
They are backed by growth capital and ready to build strong foundations of value-based manufacturing solutions. VES plans to leverage its global manufacturing infrastructure combined with its Sledgehammer supply chain efficiencies. As a result of such combinations, you will be able to deliver value, effectively improving the economy worldwide.
“It is a great honor for Varel Energy Solutions to bring the extraordinary people and impressive value-driven culture of Sledgehammer into our organization,” said Derek Nixon, president, and CEO of VES. “We exist to become the industry’s leading manufacturer of consumable downhole products in the traditional oil and gas and renewable energy sector. While we are committed to serving our customer base, we aim to offer the broadest energy services market within an improved buying economy, including our historical competitors.”
This acquisition was intended to incorporate best-in-class engineering, manufacturing, and testing capabilities in North India. Combined with VES, nearly one million square feet of the roofline is positioned. Their purpose is to produce products that address the biggest challenges in drilling. It also focuses on increasingly complex lathe completions. All without neglecting, the economic approach has been carried out throughout its history.
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Sledgehammer was founded in 1974 and has demonstrated a reputation for high-value products with a manufacturing and supply chain second to none. Its clients have become international thanks to its wide range of lining, cementing, and finishing products.