TWMA, provider of specialized Drilling Waste Management services, is expecting its growth strategy to accelerate, with a target turnover of £200 million ($263 million) and headcount to reach 1,500 following investment from Buckthorn Partners earlier this year.
To support the strategy implementation, Tony Branch will expand his current Director role within TWMA, taking over from Ronnie Garrick as CEO. Mr Garrick expands his remit as President of the Company, focusing and leading on three key growth development areas: merger and acquisitions activity; new geographic expansion; and new product and technology development.
Specialists in the oil and gas sector, private equity investors Buckthorn acquired TWMA in May 2017. With a current a turnover of £50million ($65mln), TWMA employs 540 personnel across offices and service bases in Europe, the Middle East, North Africa, West Africa and the Americas. The firm’s expertise and technology continue to be internationally recognised for providing tailored, drilling waste management solutions that reduce drilling costs and maximise operational efficiency.
With a strong presence in the Middle East and North Africa, including a new service base in Abu Dhabi, TWMA will shortly announce further growth plans across the region.
Tony Branch commented: “Since the initial investment we received six months ago, the TWMA team has created robust plans, which will result in an exponential level of growth. The development of our senior management structure is a natural and positive step, which better allows us to drive those plans forward, and meet some exciting objectives."
Most recently President of Regional Operations at Weatherford, Garrick brings over 25 years’ experience in the global drilling sector.
The expertise and investment Buckthorn brings has allowed us to focus on the next stage of development – with a specific emphasis on acquisitions.