Waterland Private Equity has entered into a strategic partnership with WellGear, an international specialist in oil and gas well decommissioning headquartered in Assen, Netherlands. Announced on October 26, 2026, the collaboration is designed to accelerate WellGear’s growth, enabling further investment in technology, innovation, and organizational development.
Founded in 2015, WellGear has grown to employ over 400 people across five countries, delivering services worldwide. The company combines proprietary electro-hydraulic technology with in-house engineering and experienced operational teams to perform complex well plugging, abandonment, and integrity operations safely and with minimal environmental impact. Its core services focus on permanently plugging wells at the end of their productive lives and maintaining the integrity of operating wells.
Waterland’s partnership will provide capital and strategic expertise to support WellGear’s ambitions for organic growth and targeted acquisitions. The company plans to expand its international presence beyond its current footprint, investing in new technology and increasing operational capacity. This expansion also includes exploring applications of WellGear’s expertise in adjacent sectors such as geothermal energy and gas storage, aligning with broader energy transition trends.
As part of the transaction, minority shareholder Pontex is exiting its investment. The founder and management team will remain shareholders and continue to lead the company alongside Waterland.
WellGear’s founder stated, “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.”
Waterland highlighted WellGear’s strong market position, proprietary technology, and entrepreneurial management as key factors in the partnership. The firm sees significant opportunities to strengthen WellGear’s global presence and to leverage its expertise in emerging energy transition markets.
The global market for safe and efficient oil and gas well decommissioning is expanding, driven by increasing regulatory requirements and environmental concerns. WellGear’s technical capabilities and international experience position it well to meet this demand. The partnership with Waterland is expected to enhance WellGear’s capacity to undertake larger and more complex projects, improve operational efficiency, and broaden its service offerings.
Financial terms of the deal were not disclosed. Waterland will support WellGear’s growth through capital infusion, strategic guidance, and access to its international network. The partnership also aims to pursue selective acquisitions to complement WellGear’s technical expertise and geographic reach.
Looking ahead, WellGear plans to integrate Waterland’s resources to scale operations while maintaining its commitment to safety and sustainability. The company will focus on expanding into new markets and developing innovative technologies to support the energy transition.
This partnership marks a significant step in WellGear’s evolution as a leading global player in well decommissioning and related energy services.
