IOS Tubular Management AS
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IOS Tubular Management AS - overview
Established
1994
Location
-, -, Norway
Primary Industry
Oil & Gas
About
IOS Tubular Management AS is a Norwegian company specializing in machining services and maintenance for Oil Country Tubular Goods (OCTG) and associated equipment, serving the oil and gas sector with precision and reliability. Founded in 1994 in Norway, IOS Tubular Management AS focuses on providing comprehensive services in the oil and gas industry, specifically related to OCTG. The company has undergone strategic growth and operates under the ownership of Bandak Holding AS, a portfolio company of Herkules Capital. Despite its ownership change in April 2013, the company's operational focus has remained consistent.
The firm is headquartered in Norway with global facilities that cater to the needs of clients in key regions such as North America and Europe. IOS Tubular Management AS provides extensive machining services, repair, and maintenance of Oil Country Tubular Goods (OCTG) and related equipment for the oil and gas industry. Their expertise encompasses manufacturing downhole equipment, executing repairs and maintenance on pipes and accessories, and offering surface treatments like manganese, zinc, and copper plating. The company serves a diverse clientele, particularly focusing on oil and gas operators on the Norwegian continental shelf, ensuring compliance with stringent industry standards.
In the most recent fiscal year of 2022, IOS Tubular Management AS reported a revenue of USD 13. 33 mn and an EBITDA of USD 345,411. Revenue generation is primarily through service agreements and direct contracts with oil and gas operators, with pricing that reflects the complexity of the services provided. IOS Tubular Management AS is strategizing to enhance its market presence by expanding its services into new geographic regions, particularly targeting growth in North America by the end of 2023.
Recent funding from the acquisition by Bandak Holding AS will support these expansion efforts and potentially allow for the introduction of new products designed for enhanced drilling operations. The focus is on leveraging existing expertise to meet the evolving demands of the oil and gas sector.
Current Investors
Herkules Capital, Bandak Holding AS
Primary Industry
Oil & Gas
Sub Industries
Oil & Gas Equipment and Services
Website
www.itm.no
Company Stage
Add-on
Total Amount Raised
Subscriber access only
IOS Tubular Management AS - timeline of key events
IOS Tubular Management AS - financials
| Fiscal Year Ended | Dec 31, 2010 | Dec 31, 2011 | Dec 31, 2012 | Dec 31, 2013 | Dec 31, 2014 | Dec 31, 2015 | Dec 31, 2016 | Dec 31, 2017 | Dec 31, 2018 | Dec 31, 2019 | Dec 31, 2020 | Dec 31, 2021 | Dec 31, 2022 | Dec 31, 2023 | Dec 31, 2024 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (USD) | 106,094,949 | 135,047,181 | 139,962,728 | 157,695,006 | 144,400,301 | 131,083,586 | 125,548,367 | 101,360,760 | 109,534,738 | 138,348,248 | 131,843,213 | 123,493,789 | - | - | - |
| % Revenue Growth (YoY) | - | 27.3% | 3.6% | 12.7% | (8.4%) | (9.2%) | (4.2%) | (19.3%) | 8.1% | 26.3% | (4.7%) | (6.3%) | - | - | - |
| EBITDA (USD) | 12,090,685 | 30,437,449 | 18,851,199 | 3,398,433 | 5,983,084 | 8,882,961 | 11,057,008 | 4,408,880 | 6,359,934 | 12,961,018 | 4,547,492 | (3,374,186) | - | - | - |
| Operating Income (USD) | 2,652,484 | 21,263,970 | 9,184,389 | (6,998,318) | (4,793,112) | (1,266,676) | 1,536,806 | (3,184,529) | 1,474,247 | 8,880,588 | 251,797 | (8,526,427) | - | - | - |
| Operating Margin | 2.5% | 15.7% | 6.6% | (4.4%) | (3.3%) | (1.0%) | 1.2% | (3.1%) | 1.3% | 6.4% | 0.2% | (6.9%) | - | - | - |
| % EBITDA Margin | 11.4% | 22.5% | 13.5% | 2.2% | 4.1% | 6.8% | 8.8% | 4.3% | 5.8% | 9.4% | 3.4% | (2.7%) | - | - | - |
| NET Income (USD) | 536,436 | 14,344,750 | 5,582,649 | (6,685,011) | (7,119,813) | (7,344,386) | (163,379,239) | 2,212,359 | 947,640 | 8,023,862 | (490,480) | (9,182,530) | - | - | - |
| % Net Margin | 0.5% | 10.6% | 4.0% | (4.2%) | (4.9%) | (5.6%) | (130.1%) | 2.2% | 0.9% | 5.8% | (0.4%) | (7.4%) | - | - | - |
IOS Tubular Management AS - deals
| Deals Type | Deal Status | Target (s) | Deal Date | Investor(s) | Seller(s) | Deal size (Mn) | Enterprise value (Mn) | Post-money valuation (Mn) | EBITDA multiple (x) | Revenue multiple (x) | Lead partner (s) |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Add-on, Trade Sale | Completed | IOS Tubular Management AS | - | ||||||||
| Add-on | Completed | IOS Tubular Management AS | - |
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IOS Tubular Management AS - employee data
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