The drilling equipment industry in Europe plays a pivotal role in supporting the energy sector, encompassing manufacturers and service providers that supply machinery, tools, and technologies essential for drilling operations. Companies involved engage in various activities, including production of drill rigs, downhole tools, and geotechnical equipment. With increasing emphasis on sustainability, many industry players are investing in innovative solutions that optimize energy use and minimize environmental impacts. Noteworthy trends include the integration of digital technologies to enhance efficiency and projection of significant growth as Europe transitions towards cleaner energy sources while catering to the demands of traditional oil and gas operations.


This list features 14 prominent investors in the drilling equipment sector, varying from corporate giants to private equity firms. With headquarters spanning key European cities from Stockholm to London, these investors range in size from small teams to large organizations, having been established from 1906 to 2021. Notably, 2024 deal counts vary greatly, illustrating the dynamic investment activities across the industry. Firms like HitecVision and Indutrade Life Science highlight shifting investment trends, aligning traditional drilling practices with technological advancements and sustainability aspirations.


Top 14 Drilling Equipment Investors in Europe


1. Indutrade Life Science

  • Website: indutrade.se
  • Type: Corporate
  • Headquarters: Stockholm, Stockholm, Sweden
  • Founded year: 1978
  • Headcount: 1001-5000
  • Number of deals in 2024: 14
  • LinkedIn: indutrade-life-science

Indutrade Life Science is a corporate investor based in Stockholm, Sweden, founded in 1978. The company operates as part of an industrial group that focuses on developing and acquiring companies with high technical expertise across various technology and industrial sectors. Indutrade emphasizes long-term relationships with its customers and operates through a decentralized structure, allowing its subsidiaries to maintain independence while benefiting from the group's resources. Notably, Indutrade has made significant acquisitions relevant to the drilling equipment industry, including Ingenjörsfirman Geotech Aktiebolag, which specializes in geotechnical field equipment. This acquisition, along with others such as Geomek Stockholms Geomekaniska AB and Trelawny SPT Ltd, showcases Indutrade's commitment to expanding its portfolio in sectors that intersect with drilling and geotechnical applications, thereby enhancing its relevance in the drilling equipment market.


2. EV Private Equity


EV Private Equity is an investment firm based in Stavanger, Rogaland, Norway, specializing in energy technology and sustainable investments. Founded in 2002, the firm partners with management teams to enhance business strategies and drive emissions reduction in energy-intensive sectors. Their focus on responsible investment practices positions them as a leader in the transition to a sustainable energy future. Notably, EV Private Equity has been involved in several transactions relevant to the drilling equipment industry, including a $15 million investment in Rival Downhole Tools in 2017, which specializes in downhole tools for drilling operations. Additionally, they invested in Deep Casing Tools, which raised over $7.8 million in 2008, further emphasizing their commitment to supporting companies that provide essential tools and technologies for drilling. These investments highlight EV Private Equity's active role in the drilling equipment sector, alongside their broader focus on sustainable energy solutions.


3. HitecVision

  • Website: hitecvision.com
  • Type: Private Equity
  • Headquarters: Stavanger, Rogaland, Norway
  • Founded year: 1985
  • Headcount: 51-200
  • LinkedIn: hitecvision

HitecVision is a private equity investment firm based in Stavanger, Norway, founded in 1985. The firm specializes in the European energy sector, focusing on providing institutional capital to energy production and infrastructure projects with an emphasis on sustainability and the energy transition. HitecVision manages private equity funds and collaborates with various stakeholders to drive growth in renewable energy and related industries. Notably, HitecVision has made several key acquisitions in the drilling equipment context, including AXON Energy Products in 2008, which specializes in drilling equipment and services. In 2013, they acquired Vryhof, a company known for its mooring solutions, and Deep Sea Mooring AS, a Norwegian mooring specialist. Additionally, they have participated in funding rounds for Energy Drilling and WellPartner, both of which are involved in drilling services. These transactions highlight HitecVision's commitment to the drilling equipment sector, making them a significant player in this industry.


4. Maven Capital Partners

  • Website: mavencp.com
  • Type: Venture Capital
  • Headquarters: Glasgow, Scotland, United Kingdom (UK)
  • Founded year: 2009
  • Headcount: 51-200
  • Number of deals in 2024: 25
  • LinkedIn: maven-cp

Maven Capital Partners is a private equity firm based in Glasgow, Scotland, founded in 2009. The firm specializes in providing growth capital and investment solutions to small and mid-sized businesses across various sectors, including technology and healthcare. Notably, Maven has made significant investments in the drilling equipment and oil & gas industries. They raised over $3.2 million for Deep Casing Tools, a company focused on drilling technology, and acquired EFC Group for approximately $16.2 million. Additionally, they led an £8.5 million funding package to establish Glacier Energy Services, which aims to deliver advanced technologies in the oil and gas sector. These transactions highlight Maven's active role in the drilling equipment industry, alongside their broader investment strategy.


5. Bgf

  • Website: bgf.co.uk
  • Type: Venture Capital
  • Headquarters: London, England, United Kingdom (UK)
  • Founded year: 2011
  • Headcount: 51-200
  • Number of deals in 2024: 53
  • LinkedIn: bgfinvestments

BGF Investment Management Limited is a venture capital firm based in London, UK, founded in 2011. The firm focuses on providing growth funding and value creation support to small and mid-sized businesses in the UK and Ireland. BGF addresses the funding gap in the market through minority investments and extensive support services. Notably, BGF has invested in several companies within the oil and gas services sector, including Spex Group, which provides oil and gas services, and Isol8, which is involved in developing zero-emissions products and expanding into wellbore construction. Additionally, BGF's investment in STATS Group, an oilfield service firm, further emphasizes their commitment to supporting businesses that are relevant to the drilling equipment industry. These transactions highlight BGF's active role in the energy sector, particularly in areas that intersect with drilling operations.


6. Epiroc Construction Tools


Epiroc Construction Tools, founded in 2018 and based in Kalmar, Sweden, is a corporate investor specializing in mining and construction equipment. The company offers a diverse range of products, including drill rigs and rock excavation tools, alongside services such as maintenance and digital solutions aimed at enhancing productivity and safety. Epiroc has been actively expanding its footprint in the drilling equipment sector through several key acquisitions. Notably, they acquired RNP Mexico, a manufacturer of rock drills, which strengthens their position in the Latin American market. Additionally, Epiroc's agreement to purchase key assets from Schramm Australia, including intellectual property and production facilities, further solidifies their commitment to the drilling equipment industry. These transactions reflect Epiroc's strategy to enhance its product offerings and service capabilities in the drilling sector, making it a relevant investor in this field.


7. Shell

  • Website: shell.com
  • Type: Corporate
  • Headquarters: London, England, United Kingdom (UK)
  • Founded year: 1907
  • Headcount: 10001+
  • Number of deals in 2024: 20
  • LinkedIn: shell

Shell plc is a multinational oil and gas company based in London, England, founded in 1907. It operates in the energy and chemicals sectors, providing essential products such as fuels, lubricants, and chemical solutions to businesses and consumers. Shell is involved in the extraction, refining, and distribution of oil and gas, serving a diverse range of industries globally. Notably, Shell has made strategic investments in companies that are relevant to the drilling equipment industry. For instance, they backed Quantico Energy Solutions, which focuses on data-driven solutions for shale drilling, and Salamander Solutions, a spinout from Shell that has received funding to develop technologies likely related to drilling. Additionally, Shell Ventures led a funding round for Veros Systems, which specializes in industrial artificial intelligence, potentially applicable to optimizing drilling operations. These transactions highlight Shell's commitment to advancing technologies that support drilling and extraction processes, reinforcing their relevance in the drilling equipment sector.


8. Triton Partners


Triton Partners is a private equity investment firm based in Luxembourg, founded in 1997. The firm specializes in private equity and credit investments in European mid-market businesses, focusing on sectors such as Business Services, Industrial Tech, and Healthcare. Triton provides operational expertise and capital to help companies unlock their full potential, partnering with management teams to address challenges and drive growth. Notably, Triton has been involved in several significant transactions relevant to the drilling equipment sector, including the acquisition of Cubility, a Norwegian oil services company, which enhances their portfolio in the drilling equipment space. Additionally, their recent acquisition of MacGregor, a cargo handling specialist, further demonstrates their interest in companies that may support drilling operations. These strategic investments highlight Triton's commitment to sectors that intersect with drilling and oil services, making them a relevant player in this industry.


9. Addtech AB

  • Website: addtech.se
  • Type: Corporate
  • Headquarters: Stockholm, Stockholm, Sweden
  • Founded year: 1906
  • Headcount: 1001-5000
  • Number of deals in 2024: 9
  • LinkedIn: addtech-ab

Addtech AB is a corporate investor based in Stockholm, Sweden, specializing in technology solutions across various sectors, including automation, electrification, energy, industrial solutions, and process technology. Founded in 1906, Addtech serves OEM manufacturers and end-users, helping them enhance operational efficiency and sustainability through innovative solutions. In recent years, Addtech has made significant acquisitions that bolster its presence in sectors related to drilling and geotechnical solutions. Notably, in May 2023, they acquired a 90% stake in Feritech Global, a company focused on bespoke technical solutions for the geotechnical subsea sector, which is directly relevant to drilling operations. Additionally, their acquisition of Control Cutter AS in October 2023 further emphasizes their commitment to expanding their portfolio in areas that support drilling and related technologies. These strategic moves position Addtech as a relevant investor in the drilling equipment industry.


10. EQT Group

  • Website: eqtgroup.com
  • Type: Private Equity
  • Headquarters: Stockholm, Stockholm, Sweden
  • Founded year: 1994
  • Headcount: 1001-5000
  • Number of deals in 2024: 30
  • LinkedIn: eqt-partners

EQT Group is a private equity investment firm based in Stockholm, Sweden, founded in 1994. The firm specializes in managing diverse investment portfolios across multiple sectors, including private equity, infrastructure, real estate, growth equity, and venture capital. EQT Group has been active in various industries, with notable transactions that include the acquisition of FINN-POWER, a company known for its industrial equipment, and Rolls-Royce Power Systems, which provides power solutions that can be relevant to drilling operations. Their investment in Bartec, which involves significant equity and debt restructuring, also highlights their engagement in sectors that may intersect with drilling equipment. Overall, EQT Group's diverse investment strategy and history of relevant acquisitions position them as a significant player in the industrial and drilling equipment landscape.


11. Blue Water Energy LLP


Blue Water Energy LLP is a private equity firm based in London, England, founded in 2011. The firm specializes in investments that support the energy transition, providing growth capital and strategic support to businesses in the energy sector. Notable transactions include the acquisition of Varel Energy Solutions in October 2019, which is known for its drilling products and services, and the acquisition of 3T Energy Group in April 2018, a company that offers training and technology solutions for the energy sector, including drilling operations. Additionally, Blue Water Energy has invested in Unique Maritime Group, which, while primarily focused on marine and subsea services, also intersects with drilling operations. These transactions highlight Blue Water Energy's involvement in the drilling equipment context, making them a relevant investor in this space.


12. Ldc

  • Website: ldc.co.uk
  • Type: Private Equity
  • Headquarters: London, England, United Kingdom (UK)
  • Founded year: 1981
  • Headcount: 51-200
  • Number of deals in 2024: 15
  • LinkedIn: ldc

Lloyds Development Capital (Holdings) Limited, commonly known as LDC, is a private equity firm based in London, England, founded in 1981. As part of Lloyds Banking Group, LDC specializes in providing growth capital and strategic support to mid-market businesses across various sectors. The firm focuses on helping management teams achieve their growth ambitions through investment and advisory services, fostering long-term partnerships to drive business success. LDC has been involved in several transactions that highlight its investment strategy, including the acquisition of Bifold Group and Mini-Cam, both of which operate in sectors related to engineering and technology. Additionally, LDC's investment in Express Engineering, a precision engineering business, indicates its engagement with companies that may have applications in the drilling equipment industry. Furthermore, LDC's support for ELE Advanced Technologies showcases its commitment to advancing technologies that could be relevant to drilling operations.


13. Mutares Benelux

  • Website: mutares.com
  • Type: Private Equity
  • Headquarters: Amsterdam, North Holland, Netherlands
  • Founded year: 2021
  • Headcount: 51-200
  • Number of deals in 2024: 16
  • LinkedIn: mutares-benelux

Mutares Benelux, a private equity firm based in Amsterdam, was founded in 2021 and is part of Mutares SE & Co. KGaA. The firm specializes in acquiring and managing companies in transition, providing operational support and consulting services to enhance profitability and growth across various sectors, including automotive, technology, and retail. Notably, Mutares has made strategic acquisitions in the engineering and technology segments, including Vallourec Bearing Tubes, which is a leader in the manufacturing of seamless high precision steel tubes, relevant to the drilling equipment industry. Other acquisitions, such as NEM Energy, further demonstrate Mutares' commitment to enhancing its portfolio in sectors that may intersect with drilling and energy applications. With 16 investments in 2024 alone, Mutares is actively expanding its influence in various industries, including those related to drilling equipment.


14. Investinor

  • Website: investinor.no
  • Type: Venture Capital
  • Headquarters: Trondheim, Trøndelag, Norway
  • Founded year: 2008
  • Headcount: 11-50
  • Number of deals in 2024: 4
  • LinkedIn: investinor

Investinor AS is a venture capital investment company based in Trondheim, Trøndelag, Norway, founded in 2008. The firm specializes in providing funding to promising startups and companies, helping them grow and achieve market leadership. Investinor manages state interests in seed and venture funds and collaborates with entrepreneurs and other investors. Notably, Investinor has been involved in several transactions relevant to the drilling equipment industry, including investments in Well Conveyor and Ace Oil Tools, both of which focus on providing innovative solutions for drilling operations. Additionally, they participated in funding Zilift Limited, a provider of artificial lift solutions for the oil and gas industry, further demonstrating their engagement in the sector. Through these investments, Investinor showcases its commitment to supporting companies that contribute to advancements in drilling technology and equipment.



Drilling Equipment Insights: Key Investors in Europe


InvestorHeadquarterSizeFoundedDeals 2024
Indutrade Life ScienceStockholm, Stockholm, Sweden1001-5000197814
EV Private EquityStavanger, Rogaland, Norway11-5020020
HitecVisionStavanger, Rogaland, Norway51-20019850
Maven Capital PartnersGlasgow, Scotland, United Kingdom (UK)51-200200925
BgfLondon, England, United Kingdom (UK)51-200201153
Epiroc Construction ToolsKalmar, Kalmar, Sweden10001+20183
ShellLondon, England, United Kingdom (UK)10001+190720
Triton PartnersLuxembourg201-50019976
Addtech ABStockholm, Stockholm, Sweden1001-500019069
EQT GroupStockholm, Stockholm, Sweden1001-5000199430
Blue Water Energy LLPLondon, England, United Kingdom (UK)11-5020110
LdcLondon, England, United Kingdom (UK)51-200198115
Mutares BeneluxAmsterdam, North Holland, Netherlands51-200202116
InvestinorTrondheim, Trøndelag, Norway11-5020084


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