Caterpillar has completed its acquisition of Weir Oil and Gas, and has now launched SPM Oil and Gas.
In October, Caterpillar announced it signed an agreement to acquire Weir Oil & Gas for $405 million from the Weir Group, a Scotland-based global engineering business.
Headquartered in Texas, Weir Oil & Gas produces a full line of pumps, flow iron, consumable parts, wellhead and pressure control products that are serviced via a global network of service centres located near customer operations. The transaction includes more than 40 global service centres and about 2,000 employees.
“Combining Weir Oil & Gas’ pressure pumping and pressure control portfolio with Cat engines and transmissions will provide additional value for our customers,” said Joe Creed, Caterpillar group president. “
This acquisition is consistent with our strategy of providing our customers expanded offerings and services which will now be one of the broadest in the well service industry.”
Headquartered near Fort Worth, Texas, SPM Oil and Gas will continue to produce a full line of pumps, flow iron, consumable parts, wellhead and pressure control products that are offered via an extensive global network of service centres.
“The creation of SPM Oil & Gas ensures the hard work accomplished by Weir Oil & Gas remains at the forefront of innovation and customer service,” said Jon Stanton, Weir Group CEO. “The new organization’s products and services along with its global reach provide an excellent customer experience and opportunity for growth.”
In February 2020, The Weir Group PLC announced its intention to sell its Oil & Gas division to focus on mining technology, providing engineered solutions from extraction through to concentration and tailings management. Founded in 1871, The Weir Group PLC has been listed on the London Stock Exchange since 1946. The company has operations in more than 50 countries.