Acquisition of Majority in Indian Oilfield Equipment Manufacturer
SAZ Oilfield Equipment, Inc. (“SAZ”) is pleased to announce that it has acquired a majority interest in CPS Oil & Gas Equipment Pvt. Ltd (“CPS”).
- Tyler, TX (1888PressRelease) February 28, 2021 - CPS is a privately-owned oil and gas technology and manufacturing company that provides a comprehensive range of downhole completion products to serve global and regional Oilfield Services & Equipment Companies. “Our investment in CPS is key to our vision of establishing a Center of Excellence for Downhole Products in India. Building on SAZ’s expertise in developing and marketing cost-effective, fit-for-purpose downhole technologies, we couldn’t be more excited to play a role in CPS continued growth”, said Feroze Haidary, President of SAZ.
Established in 2011, CPS has quickly grown to be a leader in cost-effective, high quality manufacturing focused on Bridge Plugs, Cement Retainers, Conventional and WireLine Gas Lift, Liner Hangers, Packers, Completion and Cementing Accessories.
“We are thrilled to have SAZ as a strategic investor and partner as we continue to expand globally our distribution network across the completions domain”, said Rajat Jaggi, Managing Director of CPS. Having recently moved into a brand new, state of the art manufacturing facility on the outskirts of Mumbai, we are geared up to take advantage of the disruption to the traditional low cost supply chain from China and become a reliable, long term Original Equipment Manufacturer. Partnership with SAZ shall also allow us to better serve our clients in India under the Make in India initiative from the government.”
About SAZ Oilfield Equipment, Inc.
SAZ is a leading global provider of downhole completions, sand control and artificial lift systems. Our unique business model, coupled with patented manufacturing process, which includes the Modular Sand Screen Plant, enable us to be a partner of choice for local content and fit-for-basin solutions. SAZ is a privately held company headquartered in Houston. For more information about SAZ, please visit the company’s website at https://www.sazoil.com/
About CPS Oil & Gas Equipment Pvt. Ltd.
CPS is a leading manufacturer of downhole completions and gas lift equipment. With an in-house engineering team and testing facilities that can test upto 15,000-psi and 400 degF, CPS provides a packaged manufacturing and rapid engineering solution to its customer. CPS is a privately held company headquartered in Mumbai. For more information about CPS, please visit the company’s website at www.cpsog.com
Bhuta Shah & Co LLP acted as Financial, Tax and Legal adviser to SAZ.
Address: 901 Regent Chambers, Nariman Point, Mumbai www.bhutashah.com
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