Lafayette-based Knight Oil Tools has acquired Cool Group Ltd., the holding company of drilling tool supplier Global Rentals and tool manufacturer Pedem.
Terms of the deal were not disclosed. Cool Group’s headquarters are in Aberdeen, Scotland.
Global Rentals’ main operations are based in Stavanger, Norway. The company has a rental and service facility in the Netherlands that covers most of Europe and part of Africa and a sales office in Dubai. Pedem’s design and manufacturing facilities are located in Aberdeen and Rotherham, England.
Cool Group’s innovative tool designs and excellent product performance are a perfect fit with Knight Oil Tool’s rental tool services, Knight Oil Tools President Mark Knight said in a news release.
Cool Group’s tools include the Megaton drilling jars, tools that free stuck pipe by knocking it loose. Knight is the exclusive U.S. manufacturer of the device, which is made in Broussard.
“This acquisition allows us to market Megaton products worldwide,” added Knight.
Knight said Knight Oil Tools is the largest privately held rental and fishing tools business in the oil and gas industry. The company has more than 50 locations in nine states and internationally.