Energy Ventures invests in Read Well Services
Energy Ventures has acquired Read Well Services, a subsidiary of the Read Group, together with Viking Venture, KLP Invest and the management team of RWS.
Read Well Services is a downhole technology service provider to the oil & gas industry, and has a strong reputation as a high quality provider of Cased Hole Logging services.
Energy Ventures III was the lead investor in the investment, and the investors will own 100 % of the shares in RWS following the transaction which values the company at NOK 170 million.
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| Fund | Energy Ventures III LP Argentum share 5.97% |
| Portfolio Company | Read Well Services |
| Date of Transaction | 2010-05-12 |
| Transaction | Acquisition |
| Seller | |
| Buyer | |
| Size of Transaction | NOK 170.0m |
| Ind. Focus | Energy |
| Geography | United Kingdom |
| Stage | Small/mid-cap buyout |