Expro

Expro International Group
Privately held company
Industry Energy
Founded 1973 (1973)
Headquarters Reading, Berkshire, United Kingdom
Key people
 Michael Jardon (CEO)
Revenue $915 million (2016)
Parent Umbrellastream Ltd (Candover-led consortium)
Website exprogroup.com

Expro (officially Expro International Group) is an international oil and gas service company, specializing in well flow management, headquartered in Reading, United Kingdom.

History

The business was founded by J. Trewhella, J. Ross and H. Green in 1973 at Great Yarmouth as Exploration & Production Services (North Sea) Ltd with the objective of carrying out well testing in the North Sea. In 1986 some 84% of the company was acquired by Flextech from whom the management subsequently bought out the business in 1992. The company was first listed on the London Stock Exchange in 1994. In 2006 it acquired PowerWell Services, another leading well management concern.[1]

Takeover

In May 2008 Halliburton made a £1.7bn takeover of the business,[2] while a competing bid worth £1.8bn was made the following month by Umbrellastream, a Candover-led consortium also comprising Goldman Sachs and Alpinvest.[3] An improved bid from Halliburton was then rejected by the Expro board, a position backed by the High Court after an appeal lodged by a group of activist shareholders.[4] The acquisition of Expro by Umbrellastream was completed on 1 July 2008.[5]

Structure

The business is organised into four geographic regions:

  • Europe CIS
  • Sub-Saharan Africa
  • Asia, Middle East & North Africa
  • North & Latin America

References

  1. ↑ Offshore
  2. ↑ Expro / Halliburton
  3. ↑ FT.com
  4. ↑ Ross Sorkin, Andrew (27 June 2008). "Judge Rejects Hedge Funds' Attempts to Block Candover-Expro Deal". The New York Times. Retrieved 2008-07-01.
  5. ↑ "Expro International Group PLC (UK): Scheme of Arrangement – Update". FTSE Group. 26 June 2008. Retrieved 2008-07-01.
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