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Oil & Gas Equipment & Services M&A image Oil & Gas Equipment & Services M&A » By The Online Investor Staff, updated Sat., Feb. 29, 7:44 AM Recent mergers and acquisitions in the Oil & Gas Equipment & Services M&A category.

Slide #97. Newpark Resources, Inc. Alliance Drilling Fluids, LLC

Acquirer: Newpark Resources, Inc. (NYSE:NR)
Acquiree: Alliance Drilling Fluids, LLC
Details: Newpark Resources, Inc. (NYSE: NR) today announced that it has completed the previously announced acquisition of substantially all assets and operations of Alliance Drilling Fluids, LLC ("Alliance"), a provider of drilling fluids, proppants, and related services headquartered in Midland, Texas. Total cash consideration at closing was approximately $53 million, which was funded through borrowings on Newpark's revolving credit facility. The purchase price is subject to further adjustments, based upon actual working capital conveyed. Additional consideration up to $4.3 million may be payable based on the profitability of the proppant distribution business over the two year period following the acquisition. Alliance recorded revenues of $89 million and operating income of $14 million for the year ended December 31, 2011, of which approximately 50% of revenue and 40% of operating income was attributable to the proppant business.

Newpark Resources is engaged in providing products, rentals, and services primarily to the oil and natural gas exploration and production (E&P) industry. Co. has two reportable segments: Fluids Systems, which provides customized fluids solutions to E&P customers globally; and Mats and Integrated Services, which provides composite mat rentals utilized for temporary worksite access, along with site construction and related site services to customers in various markets including E&P, electrical transmission and distribution, pipeline, solar, petrochemical, and construction industries. Co. also sells composite mats to customers around the world.

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Company Name: 
Newpark Resources, Inc.
Website: 
www.newpark.com
Sector: 
Oil & Gas Equipment & Services
Number of ETFs Holding NR: 
39
Total Market Value Held by ETFs: 
$65.02M
Total Market Capitalization: 
$316.00M
% of Market Cap. Held by ETFs: 
20.58%
 

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