The sale delivered a positive return on Maven client funds’ original investment and is the third profitable disposal by Maven’s energy services team in the past year;
In June 2015, Maven achieved a 3.3x return on exit from environmental services and equipment business MSIS and in December 2014, Maven sold control systems specialist EFC Group for a return of 3.8x cost.
Formed in 2003 and with a staff of 50 people, XPD8 is an oil and gas services consultancy offering cost-effective asset management and integrity management solutions to a global customer base, providing bespoke software tools and skilled engineers specialising in asset integrity services.
With bases now in Aberdeen and London, XPD8 has expanded its presence in international markets and now caters to a blue-chip customer base that includes Tullow, Aker, Apache, CNR and Wood Group.
Integrity services is an area of increasing focus for the oil & gas sector as energy services businesses seek to control costs and maximise production whilst maintaining safety on ageing infrastructure.
Jock Gardiner, Partner at Maven said: “XPD8 is proof that high calibre management teams can deliver growth, even in a challenging oil & gas market.”