In June 2015 Maven sold Aberdeen-based energy services business XPD8 Solutions to John Crane Group, a division of FTSE 100 listed Smiths Group plc, delivering a 1.8x return for Maven clients.
Formed in 2003, XPD8 is an oil & 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.
Maven initially supported the management buyout of XPD8 in a transaction valued at over £6 million. With bases in Aberdeen and London, XPD8 expanded its presence in international markets, catering to a blue-chip customer base that included Tullow, Aker, Apache, CNR, and Wood Group PSN.
XPD8 management has performed strongly since we invested in the company and this exit has achieved a healthy return for our investors. The business has built a reputation for excellence and a business that offers best-in-class service in a sector where the ongoing emphasis on integrity services is key for customers. XPD8 is proof that high calibre management teams can deliver growth, even in a challenging oil & gas market.
Ewan MacKinnon, Partner at Maven
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