Six-year-old privately held material management firm Oil Field Warehouse & Services Ltd (OWS) has acquired majority stake in Kakinada-based Raamns Shipping & Logistics Pvt Ltd, for an undisclosed sum.
Raamns Shipping was founded in 2009 by a group of professionals led by Murthy Adiraju. The Andhra firm caters to oil & gas companies like Reliance, ONGC, Cairn, GSPC and others operating in the Krishna-Godavari basin.
The acquisition would widen the bouquet of services through a single point of contact under OWS, Vinay Sharma, managing director of OWS, was quoted as saying. Sharma would also join Raamns’ board, following the deal.
Mumbai-based OWS was incorporated in 2005 by Vinay Sharma (former vice-president of Reliance Industries) and Pankaj Suran (an engineer with project management experience at Godrej, Reliance and other private sector companies).
The company provides material management & logistics services for the oil & gas industry and serves more than 45 companies. OWS has warehousing facilities in Vizag and Mundra SEZs; offices in Mumbai, Chennai, Delhi, Vizag and Mundra, and overseas presence in Dubai (UAE), Sohar (Oman), Houston (USA) and Genoa (Italy).