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Slide #69. Forum Energy Technologies and Quantum Energy Partners — Global Tubing
Forum Energy Technologies and Quantum Energy Partners (NYSE:FET)
Forum Energy Technologies, Inc. (NYSE:FET) and Quantum Energy Partners announced today that they have entered into a definitive agreement to jointly acquire Global Tubing from ARC Financial Corp., a Calgary-based private equity firm, and a group of investors. Upon completion of the transaction, Forum and Quantum will each hold an equal interest in Global Tubing, and certain members of Global Tubing's management team will retain a small interest. Located in Dayton, Texas, Global Tubing provides coiled tubing strings and related services to customers worldwide. Completion of the transaction is subject to certain customary closing conditions. Further details of the transaction were not disclosed.
Forum Energy Technologies is an oilfield products company. Co.'s segments include: Drilling and Downhole, which provides drilling technologies including capital equipment and products consumed in the drilling process, downhole technologies including cementing and casing tools and protection products, and subsea technologies including robotic vehicles and other capital equipment; Completions, which provides stimulation and intervention technologies including hydraulic fracturing pumps and pump consumables, and coiled tubing products including coiled tubing strings and coiled line pipe; and Production, which supplies production equipment including well site production and process equipment.
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Hold (2.00 out of 4)
(ranked lower than approx. 100% of all stocks covered)
Based on Zacks ABR data;
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