Ronnie Garrick, CEO of drilling waste management services specialist TWMA, has stepped down from his position to become TWMA president ahead of an expected company expansion. New CEO has been appointed.
TWMA said on Wednesday that it was expecting its growth strategy to accelerate, with a target turnover of £200 million and headcount to reach 1,500 following investment from Buckthorn Partners earlier this year.
Private equity investors Buckthorn acquired TWMA in May 2017. With a current a turnover of £50 million, TWMA employs 540 personnel across offices and service bases in Europe, the Middle East, North Africa, West Africa, and the Americas.
The company added that Tony Branch would take over from Ronnie Garrick as CEO to support the strategy implementation. Garrick will focus on three key growth development areas as the new president of the company, namely, merger and acquisitions activity, new geographic expansion, and new product and technology development.
Regarding his appointment, Branch said: “Since the initial investment we received six months ago, the TWMA team has created robust plans, which will result in an exponential level of growth. The development of our senior management structure is a natural and positive step, which better allows us to drive those plans forward, and meet some exciting objectives.
“I look forward to leading the global team and building upon the successes we have achieved to date.”
Most recently a president of regional operations at Weatherford, Branch brings over 25 years of experience in the global drilling sector.
Ronnie Garrick added: “Since TWMA was formed in 2000, we have been committed to providing specialized technology which is utilized in everyday drilling operations, as well as for more challenging projects. The expertise and investment Buckthorn brings has allowed us to focus on the next stage of development – with a specific emphasis on acquisitions.”