7-Industries B.V., a Dutch investment company, has announced its acquisition of American PE firm Summit Partners 26% stake in Welltec, a leading developer and provider of well technology and solutions for the oil and gas industry.

Founder and CEO of Welltec, Jørgen Hallundbæk says that Welltec is pleased to welcome new investors in Welltec and in particular to have investors with a long-term perspective and substantial financial strength.

Besides Jørgen Hallundbæk and 7-Industries also the Danish pension fund PFA and employees hold shares in Welltec.

Welltec develops and provides well technology and solutions for the oil and gas industry. Welltec’s technology and solutions are dedicated to aid in optimizing the performance of reservoirs by providing the necessary solutions to do so, both in the form of well completion technology and intervention solutions which ensure the well performance and integrity.

Bruun & Hjejle acted as legal counsel to Welltec.