Client case study
BiSN is the global leader in innovative metal-to-metal downhole sealing solutions for the oil and gas industry. Established in 2010, BiSN operates manufacturing and assembly facilities in both Runcorn, UK and Houston, Texas. With a focus on game-changing technology, research and development, the company also undertakes specialist alloy development from its own UK-based laboratory.
Using modified thermite heaters, BiSN’s unique technology reduces the heating time required for metal-to-metal sealant from hours to minutes, whilst eliminating the need for specialist wireline equipment, or restriction on deployment depth.
Rickitt Mitchell has advised the company since 2014, providing corporate finance advice throughout three funding rounds. Stuart and Alex continue to provide strategic guidance and financial forecasting services to BiSN.
“Rickitt Mitchell has been a trusted advisor to BiSN since 2014 and have helped guide the company through a period of rapid and dynamic growth. Both the company and I continue to rely on the instrumental advice provided by Rickitt Mitchell as we further develop and commercialise our industry leading technology.”Paul Carragher | Chief Executive Officer | BiSN
BiSN counts oil majors BP and ConocoPhillips as well as two of the world’s largest oilfield service companies Schlumberger and GE as its investment partners. The funding and support provided by these partners has enabled the company to develop a commercial portfolio of world leading technology across the spectrum of completions, intervention and abandonment projects.
The investment in BiSN provides it with a strong platform to support its future growth and rapidly increasing levels of customer orders.
More specifically to date it has enabled the company to:
Develop and commercialise its market leading technology portfolio
Expand into the US - relocating its headquarters and primary production facilities to the Huston energy corridor
Support headcount growth from 4 to over 70 employees
3 Investment rounds