Investing in high quality businesses with existing strong cash flow generation that are well positioned to benefit from changes driven by energy transition, Buckthorn is a hands-on active manager of its portfolio companies.
We are a change agent, creating value through operational improvement and strategic development.
Ashtead Technology is a leading provider of technologically-advanced subsea solutions, tools and systems.
With offices in the UK, US, Middle East and Singapore, Ashtead incorporates market-leading technologies and innovative life of field services to help its clients deliver complex projects and enhance asset integrity by combining technical ingenuity with engineering and field service expertise. Ashtead services the broad offshore energy market comprising offshore wind, carbon capture and storage, and subsea oil and gas maintenance and decommissioning activities.
By the numbers:
"Partnering with Buckthorn has allowed Ashtead Technology to expand geographically, broaden our product and service capability and accelerate our transition to support the rapidly increasing offshore renewables market. From the start their engagement with the management team has always been focused on doing the right thing to support the development and growth of our business through their depth of experience, contacts and energy sector insight”.
Allan Pirie Chief Executive Officer
Buckthorn and the Arab Petroleum Investments Corporation (APICORP) acquired Ashtead Technology Limited (Ashtead) in April 2016.
Since Buckthorn acquired Ashtead, the following acquisitions have been completed:
|2019||Underwater Cutting Solutions|
|2019||Forum Subsea Rentals|
|2017||Forum Subsea Rentals|
|2016||Tes Survey Equipment Services|
The World’s Drilling Waste Specialist
TWMA develops solutions for the safe and efficient processing of drilling waste generated from drilling operations. TWMA ensures clients meet and exceed the demands of local legislation whilst generating significant commercial, environmental and safety benefits. The company recycles materials used in the drilling process and facilitates the reduction of CO2 emissions from the drilling waste disposal process, delivering value to the client whilst reducing their environmental footprint.
By the numbers:
Buckthorn acquired TWMA in May 2017.
The company has offices and service bases in Europe, the Middle East, North Africa, West Africa and the USA.
Since Buckthorn acquired TWMA, the following acquisition has been completed:
|June 2018||Dynamic Oilfield Services|
Buckthorn invested in Coretrax to help the business establish an international well integrity and well productivity business across operational centres in the UK, Middle East and South-East Asia. The business provides critical support to clients in ensuring well integrity and assisting with well abandonment. The business has a developing position in the construction of geothermal wells and wells for CO2 disposal.
“Buckthorn's follow-on investments in our businesses has allowed us to quickly complete bolt-on acquisitions to drive our strategy and delivery significant operational and financial synergies. We speak with Buckthorn weekly and view them as a critical business partner with detailed understanding of the markets in which we operate”.
Kenny Murray Chief Executive Officer
Buckthorn acquired Coretrax in 2018.
Since Buckthorn acquired Coretrax, the following acquisitions have been completed:
Drilling Optimisation and Production Efficiency
Buckthorn invested in Paradigm Drilling Services (Paradigm) in February 2015, alongside Saudi Aramco Energy Ventures. Paradigm designs, manufactures, sells and rents new generation drilling and intervention products 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 product range. Paradigm has a number of new tools in the development stage that will grow its offering, with particular emphasis on technology to enhance the industry’s capability in extended reach drilling, which is key to minimising the environmental footprint of drilling operations.
Buckthorn’s investment in Paradigm was funded by a senior secured convertible instrument. Buckthorn’s involvement in the business has supported the geographic expansion of the business into the Middle East and Mexico, in addition to broadening the product range through new product design and development.