Through a U.S. subsidiary and supported by its shareholder IK Investment Partners, Doedijns International has acquired the assets of Houston, Texas-based integrated engineering and manufacturing company Logan International Corp. (Logan). Logan focuses on heavy hydraulic equipment for the offshore oil and gas industry.
The financial details of the acquisition have not been disclosed. Headquartered in the Netherlands, Doedijns is a leading supplier of hydraulic equipment for the oil and gas and maritime and dredging industries. The acquisition is the second Doedijns has made since IK Investment became a majority shareholder in September 2011 and will give the company a strong presence in the Gulf of Mexico region which is a key global market for companies servicing the offshore oil and gas market. Doedijuns acquired Singapore-based engineering company Wilmax, in December 2011, which specializes in control and valve automation, and process packages for the oil & gas industry.
The three companies give Doedijns a strong local presence in the three key geographic hubs for the industry in order to services its global customer base, as well as expand Doedijns portfolio into deep water and subsea solutions.
Logan was founded in 2002 and is currently owned by the founding management team who will become shareholders in the Doedijns group and remain in their respective roles as chief executive officer, chief operating officer and chief technology officer.
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.”
