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Buckthorn Partners takes majority stake in wellbore cleanup specialist Coretrax

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Buckthorn Partners takes majority stake in wellbore cleanup specialist Coretrax

London-based private equity firm Buckthorn Partners LLP, which invests in the oilfield services sector, invested an undisclosed amount in Coretrax Technology Ltd. to become its majority shareholder.

Coretrax founder and Managing Director Kenny Murray will become CEO of the company, with the existing management team remaining intact.

Based in Aberdeen, U.K., Coretrax provides wellbore cleanup technology and services to support well construction, completion and end-of-life operations worldwide.

Simmons Energy advised Coretrax on the transaction.