Weir Oil & Gas will acquire KOP Surface Products for an estimated $114 million, the company announced this week.
Singapore-based KOP Surface Products designs and manufactures wellheads, surface trees, valves, actuators and aftermarkets services. KOP employs 450 people in eight countries.
According a Weir release, KOP's management ream will remain on board after the acquisition, reporting into Weir's Oil & Gas Division.
“We’ve admired KOP for some time. They have great technology and really strong customer relationships in attractive markets. Weir Oil & Gas is already a global leader in pressure pumping and through this acquisition we’ll be able to expand our pressure control offering even further, building on Weir’s traditional strengths in North America and the Middle East,” Paul Coppinger, Weir Oil & Gas President, said in a release.
Weir expects to complete the acquisition in the third quarter of 2017.