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Knight Oil Tools acquired Cool Group Ltd., headquartered in Aberdeen, Scotland. Terms of the deal were not disclosed.
Cool Group is the holding company that owns Global Rentals, a provider of downhole drilling tools such as the Megaton™ drilling jars.
Global Rentals’ main operations are based in Stavanger, Norway. The company has a rental and service facility in the Netherlands that covers most of Europe and part of Africa and a sales office in Dubai.
According to Mark Knight, president of Knight Oil Tools, “This acquisition will allow us to market Megaton products worldwide.”