Gordon Technologies LLC ("Gordon"), an Enersol company, has acquired Vertex Downhole Trading LLC ("Vertex UAE"), which is the Eastern Hemisphere business of Vertex Downhole Technologies Inc, based in Calgary, Canada. The transaction will accelerate Gordon's global expansion and offerings in the Measurement While Drilling ("MWD") market. As part of the acquisition, Gordon will also obtain the intellectual property rights for Winc, Winc+, and Mudlink technologies.
Enersol, a joint venture between ADNOC Drilling and Alpha Dhabi Holdings, increased its equity stake in Gordon to 67.2% earlier this year, making Enersol the majority shareholder. Gordon, one of the industry's few fully integrated MWD players, has also recently set up operations in Abu Dhabi, its first physical presence outside the US.
Terry Frith, CEO of Gordon, said: "Gordon's acquisition of Vertex less than eight weeks after Enersol's second investment in Gordon demonstrates our commitment to rapidly building Gordon's footprint in the Middle East and as the leading MWD provider in the Eastern Hemisphere."
The acquisition, which will merge the Vertex UAE team with Gordon, enables Gordon to accelerate its market penetration by expanding its premium product offering to Vertex UAE's existing customers across 30 different countries. Upon customer request, Gordon will continue to make Vertex equipment available for purchase.
Jeremy Lorenowicz, President of Vertex UAE, said: "Joining forces with Gordon Technologies represents a significant advancement in our MWD technology offerings. This partnership and Gordons's premium product offering will enhance our technological platform, enabling us to introduce further innovative solutions that provide our customers with enhanced value and efficiency in their operations."
