Anvil and Smith-Cooper International completed the acquisition of ABZ and Quadrant valve brands from Forum Energy Technologies.

Anvil and Smith-Cooper International, a global provider of pipe connection, support system, fire protection, fabrication, and flow control products and services, completed the acquisition of ABZ and Quadrant valve brands from Forum Energy Technologies, a global oilfield products company. Financial terms were not disclosed. “This important transaction significantly improves our liquidity and financial flexibility, and continues the improvements made to Forum’s capital structure during 2020. Pro-forma for the sale proceeds, our net debt would be reduced by over one-third from the $308m level at September 30, 2020. In 2021 we will remain focused on further improving our financial position and continuing quarterly positive free cash flow," Cris Gaut, Forum Chairman and Chief Executive Officer.