The Well Services Group (WSG) has acquired multi-disciplined solution service provider Eftech International (Australia) Pty Ltd for an undisclosed sum.
Eftech International (Australia) Pty Ltd was formed in 2014 by Managing Director Andrew Manning and Eftech group founder Dato’ Mahathir Samat. Its addition to the group now extends WSG’s trading business to cover Europe, Middle East, North America, Asia and Australia. Dato’ Mahathir Samat will continue to operate Eftech International (Malaysia), which is not part of this acquisition.
Andrew Manning, a veteran of the Australian process and pipelines market, said the combination of WSG’s global reach and market-leading dominance in key sectors such as LNG makes this a very strong and competitive integrated business.
Additionally, WSG CEO Process, Pipeline and Industrial Services Andrew Burrell said the growth potential for Australia was very strong, making Eftech the perfect partner for the next stage of WSG’s expansion.
WSG will be able to deliver market leading technologies through the Eftech infrastructure, representing a value to customers in the midstream, downstream and infrastructure markets,” Mr Burrell said.
The Australian market has long been a target for the WSG Process, Pipeline and Industrial Services division to enter.
As the core LNG and Oil and Gas experience is currently in North America, Europe and Asia is very complementary to the services and clients being supported in Australia by Eftech.
Beyond LNG, WSG and Eftech have a leading reputation in Refining services, Offshore process and pipeline, Onshore FPSO and Module pre-commissioning and commissioning services. Eftech have operational centres in Perth, Darwin, Sydney and Adelaide, which is a fantastic footprint for continued expansion.
“The growth plans for WSG remain underpinned by profitable growth, introducing new technology, and a demonstrable carbon reduction plan for our client,” Mr Burrell said.
“This deal will allow us to deliver on all of these key tenants that our shareholders value.”
Many of the Directors and Shareholders in WSG and Eftech have worked together in previous organisations over many years, making the two privately owned companies ideal for a straightforward integration.
The Eftech brand is very strong in Australia and WSG wishes to keep that association. The new business in Australia will be known as WSG Eftech Australia Pty.