GE Oil and Gas has struck a deal to buy outright marine gear makers Allen Gearing Solutions.
The undisclosed deal will see GE taking over the company, two years after initially taking a 35% minority stake.
The Pershore-based firm, which produces gears and gearshafts for the oil and gas industry, will be integrated into GE’s Lufkin artificial lift and gears group in Texas.
“This acquisition underscores the importance of Allen Gears’ industry-leading technology and GE’s ongoing commitment to grow all areas of our newly acquired Lufkin business,” said Ian Milne, president of GE Oil & Gas’ Lufkin division.
“Bringing Allen Gears fully into GE will help Allen Gears grow by leveraging GE’s global sales and service footprint.”
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