Vetco, an oilfield services company, is new to the Top Track 100, having been formed in January this year in a £566m buyout from ABB, the Swiss-Swedish engineering group. The new owners are Candover, 3i, JP Morgan Partners, NIB Capital and management, led by executive chairman John Kennedy. Vetco makes drilling and production equipment installed on oil rigs and designs and manages the installation of sub-sea production systems. It also does modification and maintenance work on offshore installations and constructs new rigs. Its sales were £919m in 2003.
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