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New Deal


Announced

Expro to acquire Coretrax from Buckthorn Partners for $210m.

Financials

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Transaction Value£166m
Consideration TypeCash, Contingent Deferred Consideration, Ordinary Shares
Capital Owned-
Capital Bid For100%
EV/Sales-
EV/EBITDA4.7x
Share Price Premium-
One Off Charge-

Tags

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Majority

Friendly

United Kingdom

drilling tools

production optimization

Integrated Oil and Gas

Acquisition

Cross Border

Private

Private Equity

Pending

Single Bidder

Synopsis

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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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