CENTURION GROUP EXPANDS DRILLING, COMPLETIONS AND PRODUCTION ACTIVITIES
Acquisition of G5S Energy Services and Osprey3 Limited develops technology offering.
Aberdeen, UK, December 2019 – Centurion Group (“Centurion”), a global leader in the supply of critical services to the energy industries, is delighted to announce that it has expanded its Drilling, Completions and Production (“DCP”) segment with two acquisitions. G5S Energy Services (“G5S”), a fast growing, well-respected, leading frac stacks and valves technology company based in the USA and Osprey3 Limited (“Osprey3”), an integrated manufacturing and rental company specialising in fluid filtration and waste management products, based in the UK. The transactions were funded through a combination of cash and equity and the combined businesses are expected to deliver immediate and significant contributions to the Centurion revenue and profitability run rates.
G5S’s primary service offerings are the rental of specialty, high pressure frac stacks supporting complex well fracking operations and the provision of on-site, automated chemical dispensing units. G5S strengthens Centurion’s market position in North America and increases the opportunity for cross-selling and augmenting its current offerings. Osprey3 provides innovative water, waste and completion fluids products and services with various industry applications from their well-placed facility in Aberdeen, Scotland. Osprey3 increases Centurion’s technical differentiation and accelerates its environmentally friendly offerings.
These acquisitions are part of Centurion’s growth strategy and confirm its position as a technology leader serving the energy industries. The combined business will provide an enhanced and more diversified service offering for Centurion clients and will create significant opportunities for cross-selling.
Fernando Assing, CEO of Centurion, commented:
“I am thrilled to welcome G5S and Osprey3 to the Centurion family and look forward to sharing our future successes alongside them. Today’s news emphasises our commitment to using technology and integration as a differentiator and continues to expand our diversification into multiple industries. In addition, Osprey3 increases our environmental credentials and ability to provide more environmentally friendly solutions to our customers”.
Derek Elzner, President of Centurion US Land Geomarket, said:
“We are proud to announce the addition of G5S to Centurion. G5S’s high quality frac stack rental equipment and completions support services expands our growing Drilling, Completions and Production segment both in terms of technology and footprint and augments our already large customer offering.”
Sergio Garza, Founder of G5S, said:
“Centurion Group has an excellent track record in the pressure control space and we are looking forward to being part of the Group. We have worked closely with the Centurion team for some time and the combination of the companies, geographical footprint and financial strength provides us with the perfect blend to achieve our growth goals and continue to be a market leader.”
Ian Michie, General Manager of Osprey3 Limited said:
“I am delighted to say that we will be joining Centurion Group. Centurion’s desire to use technology to make positive change and support environmentally sustainable operations, combined with our knowledge and services will create an even better company for our customers and employees.”
Guy Bates / Marta Parry-Jones +44 (0) 207 353 4200
About Centurion Group
Centurion is a global leader in the supply of critical rental, infrastructure and support services to the energy industries. It combines the scale and the breadth of offerings via its global segments: Accommodation & Modular Solutions (AMS); Drilling, Completions and Production (DCP) and Infrastructure (INF), with strong local presence in key energy markets like US, Canada, UK & Europe, Caspian, South East Asia and Australia, to deliver value to customers around the world.
For more information, please visit www.centuriongroup.co.uk
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