Elysian Capital exits Axis Well Technology Group Limited, the UK’s largest independent well and reservoir consultancy

London, 20th June 2023 – Elysian Capital I LP has sold Axis Well Technology Group Limited (“Axis”) to RSK Group (“RSK”), a privately held UK-based environmental, engineering, and technical services group. Aberdeen-based Axis is the UK’s largest independent well and reservoir consultancy providing fully integrated well operations, well and reservoir studies and low carbon expertise across the global energy industry. Axis generated turnover of over £24 million in the year ended January 31st, 2023. Financial terms of the deal are not disclosed.

Serving the global energy sector since 2001, Axis has worked on more than 2,400 projects across all major hydrocarbon basins worldwide, with offices in the Middle East, Norway and Kurdistan. Its industry-leading, multi-disciplinary workforce consists of over 100 specialists with deep sector expertise across the complete well and reservoir lifecycle.

Elysian Capital has supported management to grow Axis’ technical capacity and to leverage its core oil and gas experience in providing critical support on low carbon, CCS and hydrogen projects for multiple UK and international clients.

Jim Anderson, Axis Well Technology’s Founder and CEO, will continue to lead the business within RSK, alongside the broader management team. Jim Anderson said, “It has been a pleasure to work with the Elysian team since 2013 and, with their support, we have broadened our technical capabilities to become an industry leader in the global energy sector. We are excited for our next chapter in partnership with RSK, which will enable us to continue growing the business through RSK’s international network and further focus on energy transition.”

Ken Terry, CEO of Elysian Capital and Axis Well Technology Board Director said, “We have enjoyed working with Jim and the team to build a market-leading, independent energy consultancy business. Being part of an international environmental group will be beneficial for Axis and its employees, and we wish Jim and the team the greatest success for the next stage of their journey.”

Elysian Capital and Axis Well Technology were advised by Piper Sandler, Eversheds Sutherland, AAB, and KPMG.