SOCOTEC sold its subsidiary SOCOTEC Oil and Gas
SOCOTEC sold its subsidiary SOCOTEC Oil and Gas to Interholding Group on the 15th of July 2019. After an important acquisition track record done in the last 2 years, the SOCOTEC group aims at concentrating on its core activities while opening a new external growth sequence on its verticals by 2024 in order to take the international leadership.
SOCOTEC Oil and Gas
SOCOTEC Oil and Gas had revenues of EUR 10.7 Mns in 2018. The company is a specialist in inspection services done in the plant itself or on site (« shop inspection ») and in technical assistance as well, for clients in the oil and gas sector, mainly for drilling and exploration activities (« upstream »).
Covering 57 countries last year, SOCOTEC Oil and Gas has a global foothold with offices in Europe (Paris, Pau, Montpellier, London, Milan), in the United States (Houston), in Argentina (Buenos Aires), and in Asia (Singapore), managing an international network of 6,000 free-lance inspectors.
« SOCOTEC Oil and Gas is a niche activity for us, in a market where specialists are going through intense transformation. We are not the right player to act and accelerate the sector consolidation and transformation. Moreover, synergies are not self-evident with our core activities. We prefer to keep concentrating on our strategic ambitions, with the objective of establishing a global leadership by 2024 in the testing, inspection and certification of constructions, real estate, and infrastructures such as in bridges, highways, tunnels, railways or airports. » said Hervé Montjotin, CEO of SOCOTEC Group.
With more than 60 permanent people, SOCOTEC Oil and Gas is positioned on a highly concentrated global market, where large actors with dense international networks are emerging.
« SOCOTEC Oil and Gas is a niche activity for us, in a market where specialists are going through intense transformation. We are not the right player to act and accelerate the sector consolidation and transformation."
Interholding Group is an Oil and Gas specialist, with post-acquisition total revenues amounting EUR 30 Mns. With the acquisition of SOCOTEC Oil and Gas, Interholding will widen its technical competencies and broaden its international network already spread in 9 countries and relying on more 280 expert.