Rubicon Oilfield International Holdings, L.P., a portfolio company of Warburg Pincus LLC, has acquired the assets and operating business of World Oil Tools Inc., a Calgary based manufacturer and supplier of specialty inflatable products and technology consumed in downhole completions operations.
Established in 2000, World Oil Tools has built a strong reputation for developing and delivering high-quality inflatable products satisfying a multitude of needs from E&P operators and service companies across the globe – ranging from U.S. unconventional basins to complex international land and offshore environments.
“We are excited to welcome the World team to Rubicon and believe this transaction will significantly enhance our participation in the downhole completions market. Rubicon is well positioned to advance the reach of World’s product offering into new and under-represented geographies,” said Michael Reeves, President and Chief Executive Officer of Rubicon. “Providing World’s extraordinary people and best-in-class technology with access to Rubicon’s global customer service capabilities will immediately enable our new teammates to offer higher value and more comprehensive completions solutions to their customers.”
“World’s product offering, high-quality manufacturing capabilities and passionate team have significant growth potential. Together, we have the ability to increase production, deliver rapid response to customer demands and ensure that our brand continues to set the standard for others to follow,” said Richard Rodriguez, Chief Production Officer of Rubicon. “The acquisition of World represents another important step in Rubicon’s path to delivering the most exciting oilfield products company in the industry.”
“We are excited to combine with Rubicon and believe this transaction will significantly accelerate the growth of our business. Through hard work and dedication over the past 17 years, the people of World Oil Tools have built a successful business and I am excited for all of us in this next chapter of growth,” said Dennis Makar, Chief Executive Officer of World Oil Tools Inc. “I am confident that together, we will flourish by becoming proud members of the Rubicon family.”
Houston, Texas based Rubicon designs, manufactures and sells/rents downhole oilfield products in every major market around the globe. Rubicon was formed in 2015 and through the acquisition of leading downhole products businesses such as Tercel Oilfield Products, Top-Co Holdings and Logan International.
photo credit: Rubicon Oilfield