GustoMSC, based in Schiedam, Netherlands, was a global leader in designing, engineering, and providing patented equipment for offshore drilling rigs and vessels used for energy exploration, production, and construction, including for wind farm installation and maintenance. In 2012, GEC funded the management-led buyout from SBM Offshore N.V. (Amsterdam: SBMO) of GustoMSC, which was originally founded in 1862. GustoMSC was sold to National Oilwell Varco (NYSE:NOV) in 2018.
Premium Oilfield Technologies, based in Houston, designed, engineered and distributed patented and proprietary, expendable products for drilling rig equipment. Collaborating with a new team of executives, GEC recapitalized Premium in 2013 to pursue additional growth. Premium was sold to Quantum Energy Partners in 2017.
Ringers Technologies, based in Houston, was a leading provider of personal protective equipment. Ringers designed and sold high-specification gloves demonstrated to have cost-effectively mitigated hand injuries. The company was founded in 1996 and recapitalized by GEC and the management team in 2012 to enhance growth opportunities. The company was sold to Ansell (ASX:ANN) in 2019.
Vortex Ventures manufactured patented mixing, blending and separating equipment that combine bulk materials and fluids. Vortex provided systems that mix oil and gas drilling fluids. In 2008, GEC partnered with a former executives from Cameron International (NYSE: CAM) and GEC acquired Vortex, originally founded in 1993. Vortex was sold to Alfa Laval Group (Stockholm: ALFA) in 2012.
BassDrill operated tender assist, offshore drilling vessels. After an investment by GEC in 2008, BassDrill built a new drilling vessel in Dubai, U.A.E. and operated it offshore West Africa. GEC sold its interest to other BassDrill investors in 2011.
Frontier Drilling was a Norwegian company that owned seven offshore drilling vessels, including five with ultra-deepwater capabilities. GEC helped to fund the growth of Frontier in 2008 and sold the company to Noble Corp. (US: NE) in 2010.