Sale of shares
Well Technology Group sale of 34% stake to Ferd Capital
Well Technology Group AS (PI Intervention AS and BTU AS) announced on 13. October the sale of 34 % of the shares in the company to Ferd Capital. The sale concluded a thorough process to find a financial partner to support Well Technology Group (“WTG”) in its ambitious strategy of building the world leading company providing packers and plugs for difficult well applications. The remaining 66% of the shares in WTG are held by key employees

Well Technology Group successfully concludes partner search through sale of 34% stake to Ferd Capital

Well Technology Group is a world class supplier of mechanical equipment for oil & gas wells. WTG designs, manufactures, owns and operates downhole tools for temporary or permanent isolation in oil & gas wells. Its unique products, including high expansion plugs and straddles, are typically used for water/gas shut off in reservoirs and barrier applications (replacing well completions, safety valves etc). WTG products are typically applied in challenging well conditions, with e.g. high temperature and high pressure.

WTG has experienced strong growth over the last years, and delivered revenues of NOKm 320 and EBITDA of NOKm 153 in 2009. The strong growth has continued into 2010.

Ferd Capital is a Norwegian active and long-term investor in privately held and listed Nordic companies. Ferd Capital applies a holistic and comprehensive approach to investments spanning from venture to buy-out. Ferd Capital manages funds of approx . NOK 5 bn, with investments including Aibel, ARKeX and Ship Equip. Ferd Capital is part of the privately held Ferd. Ferd controls net assets of approx NOK 15 bn.

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