Headquartered in Houston, Texas, USA, Multilift manufactures the patented SandGuard™ and the Cyclone™ completion tools. These products extend the useful life of an electrical submersible pump (ESP) by protecting it against falling sand and other solids after shutdown.
Pelican Energy Partners, a Houston-based private equity fund focused on the oilfield service and equipment sector, invested in Multilift in April 2015.
Prady Iyyanki, Forum Energy Technologies’ president and CEO, said: “The Multilift acquisition fits with our strategy of increasing our product offering in the artificial lift value chain to completions customers. We intend to leverage Forum’s distribution system to rapidly grow Multilift’s sales with additional customers and through geographic expansion.”
“We are pleased to have had the opportunity to work with the Multilift team and its CEO Paul Shotter through an exciting and dynamic growth period for the company,” said Mike Scott, founder and managing director of Pelican Energy Partners. “We believe that this transaction is a win-win for all parties involved and that the company has tremendous growth potential going forward.”
“The Multilift team is delighted to have grown the company through the recent downturn, and this transaction is a testimony to the combination of great-value delivering products, a great team and the excellent partners we had at Pelican,” said Multilift’s CEO Paul Shotter. “I believe the fit with Forum Energy Technologies is ideal and will allow the company and its products to further expand and am excited about the future.”
