The Netherlands: Doedijns Completes Acquisition of Logan Assets
Doedijns International, through a US subsidiary, supported by its shareholder IK Investment Partners (IK), has acquired the assets of Logan Industries International Corp. (Logan), an integrated engineering and manufacturing company based in Houston, Texas, which focuses on heavy hydraulic equipment for the offshore oil and gas industry. Financial details of the acquisition are not disclosed.
Doedijns, headquartered in the Netherlands, is a leading supplier of hydraulic equipment for the oil & gas and maritime & dredging industries. The acquisition of the assets of Logan, the second acquisition Doedijns has made since IK became a majority shareholder in September 2011, gives the company a strong presence in the Gulf of Mexico region, a key global market for companies servicing the offshore oil and gas industry.
Juul IJzermans, CEO of Doedijns International, said: “The acquisition of Logan is the next logical step in our strategy to further develop Doedijns’ international footprint. We now have businesses in each of the three main geographic hubs for the oil and gas industries, including a presence in the strategically important Gulf of Mexico region which is home to a large segment of the global offshore oil and gas industry. Additionally, Logan’s expertise in subsea and deep water equipment will reinforce our competitive advantage in Europe.”
Chris Gridley, CEO of Logan Industries International Corp., said: “The link up with Doedijns and Wilmax will allow us to access the South East Asian offshore market and will hugely benefit our existing customers. We are looking forward to our collaboration with our new colleagues at Wilmax and Doedijns.”
Remko Hilhorst, Partner at IK Investment Partners, said: “This transaction is in line with our strategy to support Doedijns’ international expansion. The company is now positioned as a global leader, providing equipment manufacturing and engineering for the oil and gas industry.”
Press Release, November 8, 2012