UK - Lime Rock Partners invests £55m into ITS Group

Founded in Aberdeen in 1986 by Bob Kidd, ITS provides a wide range of oilfield drilling services to the global energy industry, including drilling and pressure control equipment, fishing, casing running and machine shop services.

The company operates from 25 facilities worldwide and employs approximately 1,100 people. For the year ending December 2008, the company's turnover increased 47% to $143.6 million, building on a significant capital investment programme. EBITDA, before one-off costs, increased by 50% to $47.2million.

The new funding will be used to support the company's organic and acquisitive growth plans, as its aims to become a major global player in the oilfield drilling sector.

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Expansion
• UK / Ireland