Artificial Lift Performance Ltd (ALP) is an Edinburgh based SaaS business focused on production optimisation for the oil & gas industry, specifically the artificial lift sector. While based in Scotland, the business served North American customers, including super-majors in the energy industry.
We were introduced to the Shareholders in early 2023, with the founder and majority shareholder interested in understanding his options with regards to an exit after decades of working in the oil & gas industry as a consultant before developing ALP’s industry leading PumpChecker software.
Our focus was to find buyers that share similar ethos and can be a strong cultural fit, while providing a deal structure that aligned with the shareholders preference.
ChampionX being a large listed oilfield services company with a competitor product in the market and a clear strategy for automation and digitisation through technology, were identified early as being a likely strategic party to provide a suitable outcome.
Crucial to delivering a strong outcome for the shareholders was our close hands-on approach throughout the process, specifically in relation to financial analysis, the due diligence process and deal negotiations, which removed much of the burden associated with selling a business and allowed the founders to continue focusing on driving growth.
