NCS Multistage Holdings Business Summary

NCS Multistage Holdings, Inc. (NCSM) is a specialized oilfield services provider that generates revenue through the sale of engineered products and technical support services for the global oil and natural gas industry. The company operates through three primary business segments: Fracturing Systems, which utilizes its proprietary pinpoint stimulation technology to optimize reservoir contact; Well Construction, providing specialized equipment for casing and liner installations; and Tracer Diagnostics, which was significantly expanded in July 2025 through the acquisition of Reservoir Metrics, LLC (ResMetrics) to offer advanced chemical tracer and reservoir analysis services. NCSM primarily serves exploration and production (E&P) companies in North American onshore basins and select international offshore markets. The company competes directly with diversified oilfield giants and specialized firms such as Halliburton Energy Services, NOV Inc., Trican Well Service, and Calfrac Well Services, positioning itself as a high-efficiency technology alternative to traditional plug-and-perf completion methods. NCS Multistage was founded in 2006 by Marty Stromquist and Robert Nipper, both of whom brought extensive backgrounds from Baker Hughes and Tri-State Oil Tools. The current leadership team is led by Chief Executive Officer Ryan Hummer, who previously served as the company’s CFO and Director of Investment Banking at Lazard Freres & Co. He is supported by Michael Morrison, Chief Financial Officer and Treasurer (formerly of ION Geophysical), Tim Willems, Chief Operations Officer, and John Ravensbergen, Chief Technology Officer. The company maintains a strong institutional backing, with private equity firm Advent International holding a controlling interest of approximately 58%. The Board of Directors is chaired by Michael McShane, former CEO of Grant Prideco, and includes co-founder Robert Nipper alongside industry veterans from BJ Services and Rapid Micro Biosystems.