Ringers Technologies, based in Houston, was a leading provider of personal protective equipment. Ringers designed and sold high-specification gloves demonstrated to have cost-effectively mitigated hand injuries. The company was founded in 1996 and recapitalized by GEC and the management team in 2012 to enhance growth opportunities. The company was sold to Ansel (ANN:ASE) in 2019.
GustoMSC, based in Schiedam, Netherlands, was a global leader in designing, engineering, and providing patented equipment for offshore drilling rigs and vessels used for energy exploration, production, and construction, including for wind farm installation and maintenance. In 2012, GEC funded the management-led buyout from SBM Offshore N.V. (Amsterdam: SBMO) of GustoMSC, which was originally founded in 1862. GustoMSC was sold to National Oilwell Varco (NYSE:NOV) in 2018.
Premium Oilfield Technologies, based in Houston, designed, engineered and distributed patented and proprietary, expendable products for drilling rig equipment. Collaborating with a new team of executives, GEC recapitalized Premium in 2013 to pursue additional growth. Premium was sold to Quantum Energy Partners in 2017.
Vortex Ventures manufactured patented mixing, blending and separating equipment that combine bulk materials and fluids. Vortex provided systems that mix oil and gas drilling fluids. In 2008, GEC partnered with a former executives from Cameron International (NYSE: CAM) and GEC acquired Vortex, originally founded in 1993. Vortex was sold to Alfa Laval Group (Stockholm: ALFA) in 2012.
BassDrill operated tender assist, offshore drilling vessels. After an investment by GEC in 2008, BassDrill built a new drilling vessel in Dubai, U.A.E. and operated it offshore West Africa. GEC sold its interest to other BassDrill investors in 2011.
ODS-Petrodata, with primary offices in Oslo and Houston, provided market intelligence, data, and analytical tools about the global offshore energy industry. The GEC team formed the company in 2002 and acquired related businesses to provide database management and information services about offshore drilling rigs, seismic and support vessels, and field development operations. The company was sold in 2011 to IHS Markit Ltd. (US: INFO).
Frontier Drilling was a Norwegian company that owned seven offshore drilling vessels, including five with ultra-deepwater capabilities. GEC helped to fund the growth of Frontier in 2008 and sold the company to Noble Corp. (US: NE) in 2010.
Floatel International was a Swedish company that managed offshore accommodation vessels, or floatels, primarily supporting oil and gas production operations and personnel in frontier regions globally. Floatel was formed by its management and the GEC team in 2006. After an IPO in Norway, Floatel later was taken private in 2011.
Seajacks International, a company based in England, operated offshore, self-elevating liftboats that provided oil and gas production, maintenance and wind farm installation services in the North Sea. Its management and the GEC team formed the company in 2006. After an IPO in Norway, Seajacks later was taken private.
Scorpion Offshore was based in Houston and globally operated seven state-of-the-art, offshore drilling rigs. Its management and the GEC team formed the company in 2005. After completing an IPO in Norway, the GEC team realized its interests through the sale of public shares in 2008. Scorpion later was sold to SeaDrill Ltd. (US: SDRL) in 2010.
Hercules Offshore (formerly US: HERO) was based in Houston and operated globally 40 offshore drilling rigs and 25 liftboats. It provided services to oil and gas producers during the drilling, production and decommissioning of wells in key shallow-water markets globally. The GEC team were founding investors in Hercules and realized their interests through the sales of public shares after the U.S. IPO of the company in 2005.
Hercules Drilling, a Houston company, was formed by its management and the GEC team in 2001 to acquire and operate offshore drilling rigs in the Gulf of Mexico. The company in 2005 was sold to Hercules Offshore, consistent with its strategy to consolidate offshore drilling and production services vessels.
Chiles Offshore was based in Houston and globally operated five next-generation, offshore drilling vessels. The company was formed in 1997 by its management and the GEC team, which together designed and built these initial, ultra-premium class, jackup rigs. After an IPO in the U.S., Chiles was sold to Ensco plc (US: ESV) in 2002.