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Weir acquires KOP

Written by  AOG Staff Monday, 12 June 2017 20:48
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Scottish engineering firm Weir Oil & Gas has entered into an agreement to acquire KOP Surface Products, a provider of advanced pressure control wellhead technologies, systems, and services.

The acquisition is for an equivalent enterprise value of US$114 million and is expected to complete in Q3 2017. Singapore-headquartered KOP has a long history in Southeast Asia, with an emerging business in the Middle East.

The firm employs 450 people and is a provider of wellheads, surface trees, valves, actuators and aftermarket services for the oil and gas industry. KOP has a manufacturing facility in Batam, Indonesia, in addition to a network of sales and service offices in Malaysia, Thailand, Vietnam, Qatar, UAE, Saudi Arabia and India. Its current management team will continue to lead the business, reporting into Weir oil and gas division.

“We’ve admired KOP for some time. They have great technology and really strong customer relationships in attractive markets. Through this acquisition we’ll be able to expand our pressure control offering even further, building on Weir’s traditional strengths in North America and the Middle East,” said Paul Coppinger, Weir, president.

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