Since investing in EV in June 2014, we’ve worked with the company’s management and advisors to define its strategy and Full Potential Plan. Our involvement has included helping make several senior appointments and guiding an important acquisition.
To help see through EV’s plans to develop its technology, we worked on expanding the management team through a series of top-level appointments. These included new Chairman, Maurice McBride, a senior private equity oil and gas veteran with international experience, and CEO, Fraser Louden, who has over 25 years’ experience within the sector, including with Schlumberger. We also appointed a non-executive director, with senior-level experience in down-hole technology and marketing at Baker Hughes.
In April 2016, we supported EV’s acquisition of Epidote, a software company specialising in presenting and analysing oil and gas well integrity data. This move has enabled EV to diagnose problems in oil and gas wells faster and more effectively. The transaction illustrates our commitment to enhancing the company’s technological offer, with the aim of reducing costs and improving results for its clients.
We’ve worked alongside EV’s management team to support the company’s growth during a turbulent time for the sector as a whole. Having gone through the Epidote acquisition, we’ve developed an even deeper understanding of the market dynamics, which has in turn helped us support EV in defining its future strategy.
Based in Aberdeen, Houston and Norwich, EV continues to expand, and currently serves blue-chip clients in more than 35 countries across Europe, Canada, the USA, West Africa, the Middle East, Asia and Australasia.
With a significant technological competitive edge, the company operates in a predominantly untapped global market, where we see a clear opportunity to broaden its products and services. EV is an innovative organisation at the forefront of technology development in its sector and a leader in its field – as such, we believe it has a very bright future. The company is particularly well placed to capitalise on the growing use of 3D visualisation and big data in oil well analysis to optimise oil flow.
Fraser Louden, CEO, EV