Mazars assists Well Services during successful carve-out of Upstream division

Description

Mazars' Deals & Financing team proudly assisted Well Services' shareholders during the successful carve-out of the Upstream division. The Upstream division was acquired by Excellence Logging and Bluewater.

Excellence Logging is an international player in the oil and gas industry that can expand its services in Continental Europe thanks to this acquisition. Bluewater is a global Private Equity fund that specializes in and focuses on energy transition. With the proceeds from the carve-out, Well Services has freed up capital to fund the rapid growth of its Industrial division.

Well Services is a service company in the energy sector, with the Upstream division focusing primarily on exploring, testing, cleaning and shutting down oil and gas wells. In addition, this division is actively involved in the energy transition and the development of new initiatives to make the energy sector more sustainable, mainly by promoting Geothermal as an energy source.