Vetco was sold in the 1980s to Houston-based Combustion Engineering (C-E) and moved away from its original base in the Ventura Oil Field. Vetco Gray was then acquired by Hughes Tool in 1986 for $270mm. Unfortunately for Hughes Tool, the acquisition occurred just as oil prices were collapsing and Baker Hughes, the successor to Hughes Tool disposed of 70.1% of Vetco Gray to Bain Capital funds for just $3.8mm. Bain Capital sold Vetco Gray to ABB in 1991. Between 1991 and 2001 VetcoGray completes acquisitions in Canada, Mexico, Argentina and the UK. In 2004 he ABB Vetco Gray oil and gas business was acquired by a consortium consisting of the private equity firms Candover, 3i and JP Morgan Partners. In February 2007 GE Oil & Gas acquired the company. David Tucker appointed as Chief Operating Officer for VetcoGray.