31 Jul Madison Industries acquires ALS Oil & Gas
ALS Limited has sold its multinational oil and gas business (“ALS Oil & Gas”) to Madison Industries (“Madison”) for $85 million.
ALS Limited is a global testing, inspection and certification business. It has annual revenue of more than $1.2 billion and over 13,000 employees worldwide. The company’s strategy is to broaden its exposure into new sectors and geographies where it can take a leadership position.
The business will be operated as Reservoir Group. Reservoir Group is a global provider of oilfield services primarily focused on oil and gas reservoir evaluation and production optimization. Oil companies, independent E&P operators and oilfield service providers depend on Reservoir Group for their drilling services (coring services and drilling tools), production solutions (well intervention and well monitoring) and surface logging. With a portfolio of technical services and proprietary products, Reservoir Group is highly regarded for its customer service, breadth of capabilities and cost-effective solutions. Reservoir Group is based in Houston and has 51 operating locations in 27 countries on six continents.
Reservoir Group joins the Madison Energy vertical of Madison Industries.