HOUSTON, Dec. 16, 2014 /PRNewswire/ -- ESG Solutions (ESG), an industry leader and pioneer in microseismic technology and services recently announced that the ownership of ESG Solutions has transferred to Spectris plc. ESG's microseismic technology fulfills a critical role in optimizing oil and gas extraction, helping operators improve production during hydraulic fracturing and other reservoir stimulation methods by providing feedback on where and how fractures are developing underground. In recent years, the company has experienced dramatic growth which can be attributed to ESG's innovative FRACMAP® and Hybrid™ offerings.
"ESG is a strong strategic addition to Spectris' Test and Measurement segment as it is a leader in an emerging high-growth, productivity-enhancing technology," says Eoghan O'Lionaird, Business Group Director at Spectris. "We believe there is a significant opportunity for ESG to strengthen its market position, expand internationally and accelerate its growth, supported by Spectris' global reach and expertise, and ESG will also benefit from sharing capabilities and technology with other Spectris operating companies. This acquisition is further demonstration of Spectris' ability to expand into new technology platforms that provide additional sources of growth and that fit the Spectris financial profile of attractive margins and strong cash generation."
Spectris is a well-respected and long-established supplier of productivity-enhancing instrumentation and controls. Headquartered and listed in the UK, Spectris has annual revenues of over CAD$2 billion and employs over 8,000 people in more than 30 countries.
"This is a strategic move for ESG," says Ken Arnold, President of ESG. "There are many advantages to becoming part of a global group. The leadership team at Spectris has a strong interest in developing and investing in ESG's technology, and its highly talented workforce. We are excited to continue our current growth path while being able to leverage the expertise within the Spectris group of companies to provide further value to our global client base."
Moving forward, ESG plans to continue developing industry leading microseismic technology such as its patented Hybrid™ system, innovative multi-array deployment methods such as the Whip-array®, and patent-pending SMTI Advanced Analysis services. "ESG has always been at the forefront of advancements in microseismic technology and processing," says Dr. Ted Urbancic, Executive Vice President of Global Energy Services at ESG. "Through this new partnership with Spectris, we will continue to make significant investments in analytical and product R&D to ensure that our clients receive the highest quality and most technologically advanced solutions in the industry."
About ESG Solutions:
Founded in 1993, ESG Solutions (Engineering Seismology Group or ESG) is a pioneer and leading provider of innovative microseismic solutions for the mining, oil and gas and geotechnical industries. ESG helps operators improve safety, optimize production, reduce costs and mitigate risk associated with underground and open-pit mining, hydraulic fracturing, thermal enhanced oil recovery, waste-water injections, natural gas storage, carbon sequestration and geotechnical applications. ESG is headquartered in Kingston (Canada), with operations in Calgary, Houston, Muscat, Beijing and Perth and sales offices in Dallas, Dubai and Bucharest. For more information, visit www.esgsolutions.com.
Spectris plc is a leading supplier of productivity-enhancing instrumentation and controls. The Company's products and technologies help customers to improve product quality and performance, improve core manufacturing processes, reduce downtime and wastage and reduce time to market. Its global customer base spans a diverse range of end user markets. Spectris operates across four business segments which reflect the applications and industries it serves: Materials Analysis, Test and Measurement, In-line Instrumentation and Industrial Controls. Headquartered in Egham, Surrey, United Kingdom, the Company employs approximately 8,000 people, with offices in more than 30 countries. For more information, visit www.spectris.com (http://www.spectris.com).
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SOURCE ESG Solutions