Scottish turnaround specialists BRS Consulting secures sale of Ecosse Design assets
Scottish turnaround specialists BRS Consulting Ltd has successfully completed negotiations to sell the assets, designs, manufacturing and distribution rights of US oil and gas instrument provider Ecosse Design to Canadian-based Spartek Systems.
BRS was appointed in 2017 to provide strategic direction to Ecosse Design, based in Houston, Texas, following the unexpected and untimely passing of its founder, the late Jim Ellis.
In the early 1990s, Mr Ellis designed and successfully brought to market the company’s primary product, the PX-1, a certified device that is immune to the stray voltages and RF environments typically found on well sites and offshore platforms, meaning that radio transmitters, electric welding and cathodic protection equipment can continue operating during perforating and other wireline explosive operations.
Spartek Systems, a Canadian geophysical instrumentation company and a leading supplier of technology to evaluate, monitor and exploit oil and gas assets, has agreed to purchase the firm’s assets for an undisclosed sum.
Using its global footprint, Spartek Systems will provide greater distribution and support resources for the PX-1 and OM-1 fire-sets. Also known for its technology innovations, Spartek Systems plans to explore new opportunities to ensure the PX-1 and OM-1 products are highly competitive in their product class.
Mark Simpson, BRS’s corporate turnaround manager, said: “Back in 2017, we were tasked with stabilising the business following the unexpected passing of Jim Ellis who was a highly respected ballistic engineer in the oil and gas industry. The void his passing created was compounded by the impact that Hurricane Harvey had on the business shortly after we started work.
“Within two years we have restructured the company’s finances, significantly reduced costs across the business and made changes to the management and reporting structure of the business We are delighted to have achieved such a positive outcome by facilitating the sale of Ecosse’s assets to Spartek, a move that will provide the level of investment required to develop a next generation PX-1 and will build on the legacy of Jim Ellis.”