WellGear enters into a strategic partnership with Waterland to accelerate international growth
Assen, 26 October, 2026 – WellGear, a leading international specialist in oil and gas well decommissioning, is entering into a strategic partnership with investment firm Waterland Private Equity. The partnership will enable WellGear to accelerate its growth and further invest in technology, innovation and its organisation.
Since its founding in 2015, WellGear has grown into an international business with more than 400 employees, headquarters in Assen in the Netherlands and offices in five countries, from which it delivers services and solutions across all continents. The company combines in-house engineering and specialised equipment with experienced operational teams. Using its proprietary electro-hydraulic units, WellGear carries out complex well operations safely and with minimal environmental impact. Clients primarily engage WellGear to permanently plug and abandon wells at the end of their productive lives and to ensure the integrity of operating wells.
Global demand for safe and efficient oil and gas well decommissioning is growing strongly. With its technical expertise and international project experience, WellGear is well positioned to meet this demand. WellGear and Waterland also see opportunities to apply this expertise more broadly within the energy transition, including geothermal energy, gas storage and new applications and technologies.
WellGear aims to expand its international presence and invest in new technology and additional capacity. The focus will be on organic growth, complemented by targeted acquisitions that strengthen its technical expertise, service offering or geographic reach. Waterland will support these ambitions with capital, strategic expertise and its international network. For clients, this translates into greater capacity, broader geographic coverage and continued investment in the safety, efficiency and sustainability of well operations, delivered by the same trusted teams.
The founder and management will remain involved as shareholders and will work alongside Waterland to shape the next phase of growth. As part of the transaction, minority shareholder Pontex is exiting its investment.
Sigo Tjeerdsma, CEO and founder of WellGear: “We built WellGear on the conviction that well operations can be safer, smarter, more sustainable and more efficient. Thanks to our people and our proprietary technology, we now serve clients around the world. With Waterland as our partner, we gain the resources and strategic support to realise our international ambitions and continue investing in our people and innovation. We look forward to taking the next step together.”
Rinaldo Rosendaal, Partner at Waterland Private Equity: “WellGear stands out through its combination of proprietary technology, specialist expertise and a strong, entrepreneurial management team. The company is exceptionally well positioned in a market where demand for safe and efficient well decommissioning continues to grow. We see opportunities to work with the management team to further strengthen WellGear’s international position. The energy transition also creates opportunities to apply WellGear’s knowledge and technology in new applications.”
The transaction is subject to approval by the relevant competition authorities.
About WellGear
WellGear is an international specialist in oil and gas well decommissioning and well integrity. Founded in 2015 and headquartered in Assen, the Netherlands, the company employs more than 400 people and operates from offices in five countries, serving clients across all continents. By combining in-house engineering, proprietary electro-hydraulic equipment and experienced operational teams, WellGear carries out complex well operations safely, efficiently and with minimal environmental impact. Its core services are the permanent plugging and abandonment of wells at the end of their productive lives and ensuring the integrity of operating wells. WellGear’s expertise is also relevant to the energy transition, including geothermal energy and gas storage.
More about WellGear: www.wellgeargroup.com
Press contact:
Laurence Van Doosselaere – press@waterlandpe.com | +32 473 88 05 21