LAFAYETTE, La.--(BUSINESS WIRE)--Knight Oil Tools today announced the acquisition of Cool Group Ltd., headquartered in Aberdeen, Scotland. Terms of the deal were not disclosed. Cool Group Ltd. is the holding company that owns Global Rentals, a provider of downhole drilling tools such as the Megaton drilling jars, fishing jars, energizers, shock tools, bumper subs, drilling safety joints and under reamers and Pedem, the tool design and manufacturing unit for the company's products.
Cool Group is known for its quality products and customer service. Their innovative tool designs and excellent product performance are a perfect fit with Knight Oil Tool's rental tool services.
Global Rentals' main operations are based in Stavanger, Norway. The company has a rental and service facility in the Netherlands that covers most of Europe and part of Africa and a sales office in Dubai. Pedem's design and manufacturing facilities are located in Aberdeen, Scotland and Rotherham, England.
Knight Oil Tools has been the exclusive licensee of the Megaton drilling and fishing jars in the U.S. since 2010 and manufactures Megaton drilling jars at its Broussard, LA manufacturing facility.
According to Mark Knight, President of Knight Oil Tools, Cool Group is known for its quality products and customer service. Their innovative tool designs and excellent product performance are a perfect fit with Knight Oil Tool's rental tool services.
This acquisition allows us to market Megaton products worldwide, added Knight.
Focused on providing zero-failure equipment and service for 40 years, Knight Oil Tools has grown to be the largest privately held rental and fishing tools business in the oil and gas industry. Knight Oil Tools maintains an extensive inventory of high-quality products for safe, efficient and productive oilfield projects. Operating from more than 50 locations across nine oil-producing states and internationally, Knight Oil Tools serves all phases of a well's lifecycle from exploration to abandonment.