On 21 April 2022, Herkules IV entered into an agreement to sell PTC, a global provider of downhole and wellhead technology products, to Interwell. Interwell is privately held provider of oilfield technology products, headquartered in Stavanger, Norway. Intwerell is owned by Ferd and the Interwell management.
In 2014-2016, the company experienced the first industry downturn during Herkules IV’s ownership. During this period, it was decided that the company was to continue to invest in developing and expanding its portfolio of unique technology products. In addition, the company was to invest in obtaining industry leading safety and quality certifications on its products. The decision to continue to invest during those challenging times has proven to a key factor in the company’s success since 2016. Since 2016, PTC has successful expanded its addressable market and gained momentum in several new markets
