An energy industry entrepreneur has snapped up Oil Plus Ltd, a specialist oil and gas consultancy based in Berkshire, south England.
Mark Cavanagh, managing director of Crandale Consultants, acquired the business from John Crane Inc, a division of Smiths Group plc, for an undisclosed value.
Oil Plus plans on adding to its workforce over the next 12 months as it targets double-digit growth and forecasts turnover of £3million.
Mr Cavanagh has more than 25 years of experience in the oil and gas industry, primarily in project management and the population of asset management systems.
He said: “Oil Plus is a dynamic business that provides specialist services and technology to the oil and gas industry. There is a lot of potential for growth throughout the sector thanks to the skills and knowledge held within the business.
“The company has a reputation for determining water injection specification and troubleshooting oilfield water treatment systems, helping clients improve recovery and run their plant more efficiently. As the industry becomes accustomed to living with a lower oil price, Oil Plus can play an important role in supporting businesses to work cost-effectively.”