SINGAPORE / HOUSTON – 13 November 2025 – K2 Oilfield Services Pte Ltd, operating as K2 Energy Group (K2), today announced the acquisition of the global hazardous-area inspection services business of Eutex Inc. (Eutex), a portfolio company of Sutherland Holdings International, through its purchase of Eutex International Pte Ltd in Singapore. The transaction amount was not disclosed.

As reflected by the transaction with K2, Sutherland Holdings International — a diversified investment and management firm focused on innovation and operational excellence in the energy and industrial sectors — continues to build specialized platforms with strong operational foundations and global growth potential.

This acquisition enhances K2’s ability to deliver comprehensive compliance and safety solutions for energy operators worldwide. By integrating Eutex’s inspection expertise with K2’s technology-driven maintenance and engineering services, the combined offering will help major international drilling contractors and some of the world’s largest offshore production operators meet stringent hazardous-area compliance requirements efficiently and cost-effectively.

Under the agreement, Eutex will continue operating its global training, certification, and product distribution divisions, while K2 assumes ownership of hazardous-area inspection, verification, digital data management platforms, and remediation services worldwide.

“Partnering with K2 was a natural next step as Eutex refines its growth strategy,” said Tommy Sutherland, Eutex CEO and Founder of Sutherland Holdings International. “Retaining our training, certification, and product distribution businesses allows us to focus on expanding in key markets while developing our core strengths. This deal not only strengthens our relationship with K2 but also aligns perfectly with Sutherland Holdings’ mission — to build resilient, high-performing companies that deliver long-term value.”

As part of the acquisition, K2 and Eutex have established a strategic cooperation agreement to strengthen collaboration and ensure both companies continue to promote and support each other’s services globally.

“We are delighted to have agreed this deal with Tommy and the Eutex team,” said Nick Conway, Chairman, K2 Energy Group. “The ease and speed of completion reflect how well the transaction aligns with both parties’ strategies. This milestone strengthens K2’s growth trajectory, expands our reach into new regions and sectors, and deepens our expertise in specialized products and technologies.”

The deal broadens K2’s electrical and hazardous-area expertise, helping its energy customers meet their compliance obligations, but also extends its reach into Eutex’s diverse customer base across multiple energy markets and other high-value industrial sectors.

###

About K2 Energy Group

Headquartered in Singapore and operating globally, K2 Energy Group enables energy-sector operators, owners, and OEMs to achieve operational and compliance objectives through integrated inspection, maintenance, and engineering solutions driven by technology and exceptional human talent. To learn more, visit: https://k2energygroup.com/.

About Eutex Inc

Headquartered in Houston, Eutex Inc is a U.S. provider of electrical cables, hazardous-area products, training, and certification, serving customers across the USA, UK, and APAC. To learn more, visit: https://www.eutexinternational.com/.

About Sutherland Holdings International

Founded by entrepreneur Tommy Sutherland, Sutherland Holdings International is a diversified investment and management firm with a global portfolio spanning energy, technology, and industrial services. The company focuses on building businesses that deliver long-term value through innovation, operational excellence, and strategic partnerships. To learn more, visit: https://sutherlandholdingsintl.com/.