Welltec Acquisition & Valuation

Welltec was acquired by Superior Energy Services for $1.2B in September 2026.

Welltec acquisition price

$1.2B

Acquired by Superior Energy Services · Sep 2026

Key investors in Welltec

Welltec Overview

About Welltec

Welltec is a Danish manufacturer of robotic conveyance systems for oil and gas well interventions. Headquartered in Allerød, the company deploys e-line tractors and milling tools in horizontal wells worldwide, serving majors like Shell and ExxonMobil in the North Sea, Middle East, and Gulf of Mexico since 1998.


Founded

1994

HQ

DenmarkCopenhagen

Status

Acquired

Customer focus

B2B

Revenue model

Product sales

Valuation

$869M (Feb 2016)

Welltec Acquisition

Welltec was acquired by Superior Energy Services for $1.2B on 22 September 2026.

Houston-based Superior Energy Services agreed on 22 September 2026 to acquire Welltec International, the Danish well intervention and completions technology company. The Journal of Petroleum Technology reported a sum of USD 1.2 billion, including the assumption of about USD 100 million of debt, while the companies did not announce a price. Closing is expected in the first half of 2027, subject to customary conditions. Superior's chief executive Dave Lesar said the deal advances its strategy of expanding its portfolio of differentiated wellbore technology products, well intervention solutions and proprietary completion services, and called Welltec's technology and manufacturing best in class. Welltec chief executive Peter Hansen said Superior's complementary capabilities and global customer relationships can support continued growth of its technologies. Welltec supplies robotic and wireline-deployed well intervention tools that manipulate, mill, clean, cut and fish wellbore components, plus a metal expandable packer used in intervention and completion work. It operates in more than 50 countries, employs nearly 1,000 people and holds more than 800 patents. S&P Global estimated the combined group could generate up to USD 2 billion of annual revenue, and Welltec derives about 75 percent of its revenue outside North America.

Welltec acquisition details
AcquirerDateTypePrice
  • Superior Energy Services
22 Sep 2026Strategic M&A$1.2B

Sources: jpt.spe.org

Welltec Valuation

Welltec is currently valued at $869M, based on its secondary sale in February 2016. Read the announcement ↗

The $115M round included EXOR.

Welltec valuation by funding round

Welltec valuation by funding round
DateStageValuation
Feb 2016Secondary$869M

Welltec Funding History

Welltec has 1 recorded secondary share sale and no primary funding rounds.

Welltec funding rounds

Welltec funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Feb 2016SecondaryEXOR$115M$869MEXOR invested EUR 103.3 million for a 13% shareholding in Welltec, the Danish supplier of robotic well-intervention technology used to clean, maintain and repair oil and gas wells. The shares came from 7-Industries Lux, which kept a matching holding alongside founder and chief executive Jorgen Hallundbaek, who remained the majority owner. EXOR made the investment while oil-sector valuations were depressed and committed to being a long-term shareholder.

Who has invested in Welltec?

1 investor has backed Welltec across its funding rounds, including EXOR.


Welltec Investors

Investors in Welltec by funding rounds participated
InvestorHQRoundsRoleFirst check

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Acquisitions by Welltec

Welltec has acquired 2 companies to date.

Last acquisition by Welltec was on December 4th 2024. Welltec acquired Pipesnake for undisclosed valuation.


Latest Acquisitions by Welltec

Pipesnake
Autentik
Description
Pipesnake is a Stavanger-based provider of remote-controlled pipeline tractors for cleaning, inspection, and intervention in oil, gas, and water systems. Its electric and hydraulic models handle diameters from 4 to 48 inches, deployed on platforms in the North Sea and globally.
Autentik is a Norwegian manufacturer of heavy-duty fishing tools for offshore operations. Based in Haugesund, the company produces grappling hooks, release tools, and underwater cutters that shorten fishing cycles and boost recovery rates. Its products feature hydraulic activation and ROV compatibility for deep-sea applications. Autentik supplies rigs in the North Sea and Barents Sea regions.
HQ CountryNorwayNorway
HQ City
Stavanger
Stavanger
Deal Date4 Dec 202428 Feb 2023
Valuationundisclosedundisclosed
EV/Revenue
EV/EBITDA

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Welltec Competitors

Welltec competitors include listed companies like 2G Energy, Nabors Industries, Serica Energy and Navigator Gas, and private ones like Port Arthur LNG Phase 1 and Petronas (50% stake in two Brazil offshore fields).

Public and private companies comparable to Welltec
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
2G EnergyGermanyGermanyPublicly listed$447M$40M$884M1.6x
Nabors IndustriesUnited StatesUnited StatesPublicly listed$3.2B$1.4B$1.2B1.1x
Serica EnergyUnited KingdomUnited KingdomPublicly listed$601M$262M$1.2B1.0x
Navigator GasUnited KingdomUnited KingdomPublicly listed$587M$295M$1.2B3.3x
Port Arthur LNG Phase 1United StatesPort ArthurPrivate--$976M-
Petronas (50% stake in two Brazil offshore fields)MalaysiaKuala LumpurPrivate--$900M-

Welltec Public Comps

Welltec is no longer listed, but its public comps include Nabors Industries, Serica Energy, Navigator Gas, Tennant, Advantage Energy, RPC Inc., KSB, Lipigas, National Gas and Palfinger.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Nabors Industries$3.2B$1.4B1.2x1.1x2.7x4.0x
Serica Energy$601M$262M1.9x1.0x4.4x2.0x
Navigator Gas$587M$295M3.0x3.3x6.1x6.1x
Tennant$1.2B$126M1.3x1.2x12.2x10.5x
Advantage Energy$504M$257M3.3x2.9x6.4x5.0x
RPC Inc.$1.6B$212M0.6x0.6x5.0x4.2x
KSB$285M$43M4.0x3.7x26.8x29.2x
Lipigas$969M$196M1.5x-7.4x-

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Common questions about Welltec

When was Welltec founded?Welltec was founded in 1994.
Where is Welltec headquartered?Welltec is headquartered in Copenhagen, Denmark.
Is Welltec publicly listed?No, Welltec was acquired by Superior Energy Services in September 2026.
Who acquired Welltec?Welltec was acquired by Superior Energy Services in September 2026.
How much was Welltec acquired for?Welltec was acquired for $1.2B in September 2026.
What is Welltec's valuation?Welltec was last valued at $869M in its secondary sale in February 2016.
Who are Welltec's investors?Welltec's investors include EXOR.
Which companies are comparable to Welltec?Companies comparable to Welltec include 2G Energy, Nabors Industries, Serica Energy, Navigator Gas, Port Arthur LNG Phase 1 and Petronas (50% stake in two Brazil offshore fields).
How many companies has Welltec acquired?Welltec has acquired 2 companies, including Pipesnake and Autentik.

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