We first invested in the oil services sector in 1974.  The companies we’ve supported have shown strong growth, organically and by acquisition, and have often achieved a successful flotation following a period of partnership with 3i:

• We worked with Wood Group for 20 years.  The company provides a range of services to the oil and gas industry, including engineering design and project management for new fields.  We began to partner the company in 1982 and supported it through several rounds of funding as it made acquisitions and built a presence in over 30 countries.  The company was listed on the London Stock Exchange in 2002.
• Petrofac was seeking transformational growth when we invested in 2002.  It was a well-managed engineering, procurement and construction business but had ambitions to become an integrated facilities solutions provider.  We introduced new members to the management team and helped Petrofac make strategic acquisitions.  By the time the company went public in 2005, it had achieved its ambitious evolution and developed a presence in 18 countries.
• The purchase of Vetco was awarded Large Market Deal of the Year by The US Buyout Magazine.  We were a key member of the syndicate that bought Vetco from ABB in 2004, when the Swiss-Swedish giant was disposing of non-core assets.  Vetco is a world-class brand in oil services, known for product quality and technical expertise.  We’re using our industry contacts and global network to help the business win substantial new contracts.