Subjects: BUSINESS CONTRACTS, SHAREHOLDER RIGHTS PLANS, MISCELLANEOUS, MISCELLANEOUS, MERGERS AND ACQUISITIONS (M&A)
Sproule Announces Agreement to Acquire SGS's Global Subsurface Consultancy
Calgary, Feb. 10, 2023 (GLOBE NEWSWIRE) -- Sproule, a leading global energy consulting and advisory firm, is pleased to announce an agreement to acquire SGS S.A.'s ("SGS") Subsurface Consultancy ("SSC") based in the Netherlands. Geneva-based SGS is a testing, inspection and certification company recognized as the global benchmark for sustainability, quality, and integrity. SSC conducts reserves certification, seismic interpretation, integrated subsurface studies, and provides expert witness services for clients related to various energy projects globally, but primarily in Europe and the Middle East.
"This acquisition strengthens Sproule's existing Reservoir Services, Geothermal, and Energy Advisory teams, particularly in the European market. It offers continuity for clients and employees, while providing additional scale to our growing platform at a disruptive time in global energy markets," says Christoffer Mylde, SVP Corporate Development, Sproule.
This acquisition combines SSC's deep bench and extensive track record in reservoir studies, expert witness testimony, and advisory services with Sproule's growing global platform. The combined expertise, industry contacts, and technical acumen will offer an even more compelling value proposition to clients. SSC will be integrated with Sproule's existing team in the Netherlands. The transaction is set to close on March 1, 2023.
"This acquisition further cements our business within the European market. It positions us to compete more effectively and deliver better solutions for our global client base, by further deepening our technical and commercial expertise. We look forward to welcoming the SSC team to Sproule, where we will provide critical continuity and offer new services to existing SSC clients," says Jim Chisholm, CEO, Sproule.
About Sproule
Sproule is a global energy consulting and advisory firm that helps companies, investors, and governments understand value and risk in an increasingly complex energy market. Clients value our solutions and the resulting stakeholder confidence in decisions. Sproule offers trusted advice on evolving energy markets, including decarbonization strategies, net zero pathways, independent assurance for resource reports, optimized turn-key asset management solutions, and strategic advice on M&A transactions across the energy value chain.
About SGS
We are SGS ? the world's leading testing, inspection, and certification company. We are recognized as the global benchmark for sustainability, quality, and integrity. Our 97,000 employees operate a network of 2,650 offices and laboratories, working together to enable a better, safer, and more interconnected world.
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Phone: +1-403-771-6702
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