Greene's Energy Group Acquires Singapore- Based Associated Rental Tools Company
Greene’s Energy Group (GEG), a leading provider of integrated testing, rentals and specialty services, has acquired the shares of Singapore-based Associated Rental Tools Company Pte, Ltd. (Artco), GEG Chief Executive Officer Bob Vilyus announced.
Established in 1982, Artco’s range of services includes rental, sales, service, repair and load testing of oilfield related equipment. Artco’s array of products and services feature air and manual operated slip type elevators, spider slips, safety clamps, manual and hydraulic power tongs; fishing and drilling tools, cementing pumps, tubular equipment, rig parts and compressor construction and repair.
“For Greene’s, Artco provides a great platform to bring our Devin and Cherokee rental equipment into the territory and Artco’s pump and compressor construction and repairing capabilities will bring in-house expertise to GEG Asia Pacific’s (GEGAP) pipeline services business,” said Vilyus. “We have been looking for a complimentary business that fits well culturally, has a great market reputation of service and expertise, and allows us to bring in further rental and service equipment and people to further serve our customers in the region. This acquisition also allows us to consolidate our locations into one substantial facility with great visibility and accessibility to this sector of the oilfield services industry.”
Dennis Lim, Artco’s majority owner, will remain as General Manager and continue regional business development efforts. A native Singaporean, Lim has owned and operated Artco since 1993. Cheok Poh Leng, Artco’s active minority leader, will retain her role as Business Manager, maintaining the company’s accounting and office functions. Lim and Poh Leng will report to John Johnston, General Manager GEGAP.
“This acquisition is a good fit for my business and will allow the organization to evolve and attract more opportunities for Artco and our skilled employees,” said Lim. “We are proud of the business we have built and look forward to advancing the company further at Greene’s.
“Greene’s believes that the Middle East and Asia Pacific regions are prime areas to expand our service offerings. Artco exhibits entrepreneurial characteristics similar to ours and we feel that the company will be a great fit and a springboard for advancing our services in the region,” said Johnston. “Dennis has great connections to the industry in this part of the world and he will be a strong leader for our business, driving opportunity for the greater GEGAP.”
Artco’s established customer base and proven track record of offering rentals, products and services in the region played a role in GEG’s decision to acquire the company. Artco obtained ISO 9001:2000 certification in September 2007. To ensure quality, prior to shipment all sales and rental equipment offered by the company are fully tested.
About Greene’s Energy Group
Greene’s Energy Group is a leading provider of integrated testing, rentals and specialty services for drilling, production, pipeline and process operations. Greene’s employs more than 950 people worldwide with its group headquarters in Houston, TX.
SOURCE: Greene’s Energy Group