Aberdeen-based oil and gas service firm Optima Solutions has been sold to US company Tetra Technologies for at least £40million.
But it is not known exactly how much shareholders, including founding directors Jamie Oag and Peter Bartholomew, will receive.
Mr Oag has a personal shareholding of 42.3%, while Mr Bartholomew has a 12.4% stake in the company, which provides rig-cooling systems to the oil and gas industry.
Optima said yesterday it would come under Tetra’s UK-based investments subsidiary as part of the deal, which includes a two-year agreement for further payments dependent on future profitability.
The senior management team will stay with the firm and Optima said it would continue trading as a separate business.
Mr Oag said the deal would allow the firm to tap into new markets across the world, adding: “We already have bases in Aberdeen and Australia but joining the Tetra team will allow us to provide our services on a global basis.
“It will be business as usual for us but with the added advantage of stronger financial support to help us grow in key regions where Tetra already has an established presence.”
Optima currently employs more than 80 people and turns over nearly £15million annually, and Mr Oag said he wanted both figures to grow under Tetra’s ownership.
Phil Longorio, senior vice-president at Texas-based Tetra, said the firm was mainly focused on the US market but the Optima acquisition was part of plans to expand across the world.
He added: “Optima has a good presence and a well recognised brand. It has established itself as a leader in our field.
“We felt that we were uniquely positioned to help Optima as well as our own growth strategy.
“Optima’s key growth markets are locations where Tetra already has a local presence and, hopefully, we can facilitate that growth and work together to make both businesses more successful.”
Simmons and Company International advised Tetra on the deal, while Ernst and Young was financial adviser to Optima.