READ Cased Hole Ltd (“READ” or the “Company”), indirectly majority owned by Norvestor VII, L.P. and Norvestor VII OS, L.P., has completed the acquisition of Proactive Diagnostic Services, Inc. (“PDS”). With this acquisition, READ establishes a strong position in the US market and gains complementary expertise within well integrity market.
READ is a leading specialist within the production logging and integrity evaluation segment of the Oil Services industry, providing its customers with high-value well intelligence required to make qualified decisions about production and integrity related issues.
PDS was founded in 1995 and offers well logging services to the US market with a similar business model to READ. Today, in addition to its strong Alaskan foothold, the business also services customers throughout the Lower 48 and Gulf of Mexico regions, providing surface readout and memory diagnostic technologies, data analysis, and proprietary software.