Vetco International

High oil prices have boosted sales at Vetco, helping it to win new business from customers that include Exxon Mobil, BP and Statoil. The London company makes drilling and production equipment for oil rigs, as well as building and maintaining rigs. It also designs and manages the installation of subsea production systems. Vetco was formed in 2004 through a buyout of a division of the Swiss-Swedish engineering firm ABB backed by Candover, 3i, JP Morgan Partners, NIB Capital and management. The company, which is led by chief executive Peter Goode, achieved sales of £1,368m in 2005.

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Company details
CompanyVetco International
ActivityOilfield services provider
LocationCentral London
Sales £m*1,368
Profit £m*55
Year endDec 05
Principal shareholdersCandover, 3i, JP Morgan Partners, NIB Capital, management

If applicable:

* Supplied by company † Annualised figure