Canadian Energy Equipment Manufacturing FZE (CEEM), a Hamriyah free zone, UAE-based specialist in custom-made equipment for the oilfield industry, has been acquired by private equity firm Black Pearl Capital.
The investment was made through the Black Pearl Capital Partners fund.
As stated by Tyler Hague, the founder of CEEM, who will continue as CEO, BPCP will help the company increase product and services offering in order to continue growing its existing customer base and expand its regional footprint.
Launched in 2006, CEEM specializes in the design and manufacturing of Advanced Hydraulic Workover Units/Rigs. It also provides multiple oilfield related services such as Water Jet Cutting, CNC Plasma Cutting, Steel Fabrication, Machining, Grit Blasting and Painting.
The company’s customer base include oilfield services companies Weatherford International, Halliburton, Tesco Top Drives and Cudd Energy Services.