BGF acquired an additional stake in Spex Group.

BGF acquired an additional stake in Spex Group, which provides specialist explosive products and services to the oil and gas industry, including for downhole cutting, punching and abandonment. BGF originally invested £5m in February 2014 to support the company’s expansion in international markets. Financial terms were not disclosed. James Oag, CEO of SPEX Group, says: “This investment will help SPEX Group to support innovative solutions to some of the biggest challenges facing the oil and gas industry. We’ve increased the offering to ensure that SPEX Group continues to support opportunities that deliver solutions that improve safety, integrity and production, while enhancing and protecting the clients’ reputation and optimising their assets.”