Announced
Financials
Tags
Majority
Friendly
United Kingdom
drilling tools
production optimization
Integrated Oil and Gas
Acquisition
Cross Border
Private
Private Equity
Pending
Single Bidder
Synopsis
Expro, an energy services provider, agreed to acquire Coretrax, a performance drilling tools and wellbore cleanup, well integrity and production optimization solutions provider, from Buckthorn Partners, a private equity firm, for $210m. “We are thrilled to announce our proposed acquisition of Coretrax, and look forward to welcoming John Fraser and his teammates to the Expro family. Coretrax has a complementary offering to Expro with little overlap and will bolster the portfolio of technology-enabled services and solutions offered through our Well Construction and Well Intervention & Integrity product lines, adding significant value to our clients from innovative technologies that reduce risk and cost, optimize drilling efficiency, extend the life of existing well stock, and optimize production," Michael Jardon, Expro CEO.
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