Expro

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

Expro International Group
TypePrivately held company
IndustryEnergy
Founded1973 (1973)
HeadquartersReading, Berkshire, UK
Key people
Michael Jardon
(Chief executive officer)
Revenue$678.6 million (2017)
ParentUmbrellastream Ltd (Candover-led consortium)
Websiteexprogroup.com

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, for $674.5 million.[1]

Takeover

In May 2008, Halliburton made a £1.7 billion 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][4] 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.[5] The acquisition of Expro by Umbrellastream was completed on 1 July 2008.[6]

Structure

The business is organised into four geographic regions:

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

References
  1. "Expro International Group aquires [sic] PowerWell Services". offshore-mag.com. August 7, 2006. Retrieved June 18, 2020.
  2. Lalor, Dan (May 23, 2008). "Halliburton offers 1.7 bln pounds for Expro". Reuters.com. London. Retrieved June 18, 2020.
  3. "Court clears Expro sale to Candover-led group". Financial Times. Retrieved June 18, 2020 – via FT.com.
  4. "PRESS DIGEST - Financial Times - June 27". Reuters.com. June 26, 2008. Retrieved June 18, 2020.
  5. Ross Sorkin, Andrew (27 June 2008). "Judge Rejects Hedge Funds' Attempts to Block Candover-Expro Deal". The New York Times. Retrieved 2008-07-01.
  6. "Expro International Group PLC (UK): Scheme of Arrangement – Update". FTSE Group. 26 June 2008. Archived from the original on 14 June 2011. Retrieved 2008-07-01.
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