Petroworks | 2009 - 2011 | Fondo FTC

Petroworks | 2009 - 2011 | Fondo FTC

Business Description

Top 3 drilling and workover service provider for the Colombian oil industry

Regional Presence: Colombia

Closing Date: June 2009

Fund: Fondo Trasandino Colombia (FTC)

Status: Exited - Private Sale to Strategic (2011)


Investment Highlights

• Preferred contractor with major operators

• Key competitive advantage through disciplined equipment standardization

• More than 150,000 hours of experience in oilfields

• Impeccable execution track record based on international certifications and processes — ISO 9001, OSHAS 18001, RUC

Value Creation

Corporate Governance

• Support in transition from small family-owned company to corporation

• High reputation Board of Directors with independent members from the oil and financial industries

Management Support

• Implementation of monthly reports, business intelligence and process engineering

• Clean-up and improvement of balance sheet and debt profile

• Improve control and optimization of cost structure

Replication and Expansion

• Development and rollout of more sophisticated rigs for deep drilling, that improved company’s positioning, revenue and profitability