INVESTMENTS

February 2015
Buckthorn invested alongside Saudi Aramco Energy Ventures in Paradigm Drilling Services (Paradigm) in February 2015. Established in 2009 Paradigm designs, manufactures, sells and rents a number of new generation drilling and intervention technologies, used both in the conventional and unconventional oil and gas sector. The company offers a wide range of products and services and supports a global customer base through its current commercial product range. Paradigm has a number of new tools in the development stage that will grow their offering, with particular emphasis on technology to enhance the industry’s capability in extended reach drilling.
April 2016
Buckthorn and the Arab Petroleum Investments Corporation (APICORP) acquired Ashtead Technology Limited (Ashtead). Since its launch in 1985, Ashtead has grown to become a leading independent provider of subsea technology and services to the oil and gas industry with a strong customer base built on trust and quality. With offices in the UK, Houston and Singapore, Ashtead is focused on delivering cost savings and value-added services to its customers.
TES Survey Equipment Services LLC - December 2016
Ashtead Technology announced the acquisition of Abu Dhabi based TES Survey Equipment Services LLC. Established in 2007 by Susan Murray, TES Survey Equipment Services sells and rents a range of environmental, geophysical, survey and ROV equipment. Susan will continue to lead the business, cementing its footprint in the Middle East.
Forum Subsea Rentals - December 2017
Ashtead Technology and Forum Energy Technologies, Inc. agreed to form a joint venture, creating the industry’s leading provider of subsea survey and ROV equipment rental and associated services. Forum will contribute its subsea rentals business, currently trading as Forum Subsea Rentals. The business, which will trade as Ashtead Technology, will provide an independent one-stop shop for customers’ equipment requirements. In addition to offering the largest equipment rental capability in the sector supported by a team of 120 skilled personnel, Ashtead Technology will provide advanced engineered measurement solutions and comprehensive asset management services.
Welaptega - November 2018
Ashtead Technology has further bolstered its rapidly-expanding inspection, maintenance and repair services and capabilities with the acquisition of Canadian-based underwater inspection company, Welaptega. Founded in 1990, Welaptega is a market leader in mooring system inspection and integrity engineering. Over the past 28 years it has developed a suite of pioneering technologies and services to mitigate failure, prevent damage, and manage the ongoing integrity of offshore operations through a risk-based approach to asset integrity.
Aqua-Tech Solutions - April 2019
Ashtead Technology has acquired Louisiana based subsea equipment rental and cutting services specialist, Aqua-Tech Solutions, as part of the company’s international growth plans in the USA. The combined business will see clients in the Gulf of Mexico region benefit from a robust and enhanced offering, allowing more timely and cost-effective access to the group’s full range of equipment and services from locations in Broussard and Houma, Louisiana.
Forum Subsea Rentals - August 2019
Forum Energy Technologies (FET) has agreed to sell its interest in Ashtead Technology which it acquired in January 2018 as part of the transaction which resulted in a merger between FET’s subsea rentals business and Ashtead. The merger created the industry’s largest independent provider of subsea survey and ROV equipment rental services.
Underwater Cutting Solutions - September 2019
Ashtead Technology has further expanded its inspection, maintenance and repair (IMR) and decommissioning capabilities with the acquisition of Underwater Cutting Solutions (UCS) which will significantly broaden Ashtead Technology’s IMR service.
May 2017
Buckthorn acquired TWMA in May 2017. Established in 2000 and with over 500 staff, TWMA has become recognised internationally for providing specialist drilling waste and environmental solutions that reduce drilling costs and maximise operational effectiveness. The company has offices and service bases in Europe, the Middle East, North Africa, West Africa and the Americas.
Dynamic Oilfield Services - June 2018
TWMA announced its acquisition of US-based Dynamic Oilfield Services in an eight-figure deal. The US land drilling market is currently recognised as the fastest growing drilling market in the world, Dynamic Oilfield Services deploys its solids control and surface equipment divisions in some of the most prolific onshore basins in the US.
December 2018
Coretrax, the independent wellbore clean-up and abandonment specialist, has received a substantial investment from private equity firm Buckthorn Partners to accelerate its ambitious international growth plans. The Aberdeen headquartered company, which supports global well construction, completion and end-of-life operations, recently reported record trading performance across its operational centres in the UK, Middle East and South East Asia with more than £5 million of contracts secured this year. It is also working on projects in the US and West Africa where it sees future market potential for its wellbore clean up technology and service offering.
May 2019
Mohawk Energy, the expandable tubular well solutions specialist, has received a substantial investment from private equity firm Buckthorn Partners to support its domestic and international growth ambitions. The Houston-based company provides expandable solutions in pursuit of well integrity, improved well productivity and recovery. Mohawk Energy (Mohawk) has recently completed a number of significant long lateral refrac’s and well integrity installations in the US. More recently the company performed installations with a major operator in the North Sea to improve well productivity and performance using its novel wireline-based expandable technology. Established in 2004, the company operates in the US, North Sea and Middle East.