Key - M&A Summary and Business Overview

Energy Services And EquipmentCompany

Key M&A Summary

Key has acquired 6 companies. It has also divested 3 assets.

Key’s largest acquisition to date was in 2008, when it acquired Western Drilling for $51M. It’s largest disclosed sale occurred in 2017, when it sold Key Energy Services - Frac Stack & Well Testing Assets to Covenant Testing Technologies for $24M. Key has acquired in 4 different US states, and 2 countries. The Company’s most targeted sectors include distribution (50%) and energy services and equipment (34%).

Key Business Overview

Where is Key headquartered?

Key is headquartered in Houston, Texas.

What is Key’s revenue?

Key disclosed revenue of 414M USD for 2019 and 522M USD for 2018.

How many employees does Key have?

Key has 2,000 employees.

What sector is Key in?

Key is an energy services and equipment company.

When was Key founded?

Key was founded in 1977.

M&A Summary

  • M&A Total Activity9
    • M&A Buy Activity6
    • M&A Sell Activity3
  • Total Sectors Invested 3
  • Total Countries Invested 2
  • M&A Buy/Sell Connections 3
  • M&A Advisors 1

Key

Key Energy Services, Inc.

1301 Mckinney Street, Suite 1800,
Houston, Texas 77010
United States,
(713)651-4300
www.keyenergy.com

Key is an onshore, rig-based well servicing contractor based on the number of rigs owned. Key provides a complete range of well intervention services and has operations in all major onshore oil and gas producing regions of the continental United States and internationally in Mexico and Russia. Key was founded in 1977 and is based in Houston, Texas.


M&A Summary

Buy vs Sell

Year ≤ '19 '20 '21 '22 '23 '24 T
Buy (0.0/yr) # 6 - - - - - 6
vol $69M $69M
Sell (0.2/yr) # 2 - 1 - - - 3
vol $24M $24M
  9

Most Recent M&A

Company Date Value Type
Key Energy Services - Fluid Management Services Assets 2021-09-23 - Divestiture
Houston, Texas
Advanced Measurements, Inc. 2017-06-30 - Divestiture
Calgary, Alberta · www.advmeas.com
Key Energy Services, Inc. - Frac Stack & Well Testing Assets 2017-06-13 24M USD Divestiture
Houston, Texas
Summit Oilfield Services LLC 2011-08-08 - Add-on Acquisition
Sibley, Louisiana · www.summitosllc.com
Edge Oilfield Services LLC 2011-08-08 - Add-on Acquisition
Weatherford, Texas · www.edgeosllc.com
Hydra-Walk, Inc. 2008-05-30 10M USD Add-on Acquisition
Lindsay, Oklahoma · www.hydra-walk.com
Western Drilling, Inc. 2008-04-03 51M USD Add-on Acquisition
Taft, California
Moncla Companies LLC 2007-09-25 - Add-on Acquisition
Lafayette, Louisiana · www.moncla.com
Advanced Measurements, Inc. 2007-09-05 8M USD Add-on Acquisition
Calgary, Alberta · www.advmeas.com
View All >>

M&A by Sector

Sector Buy # Value Sell # Value
Energy Services and Equipment 2 (33%) 51M (73%) 2 (67%) 24M (100%)
Distribution 3 (50%) 10M (14%) - -
Software 1 (17%) 8M (12%) 1 (33%) -
Total 6 $69M 3 $24M

By Geo

State/Country Buy Value Sell Value
United States 5 61M 2 24M
  Texas 1 - 2 24M
  Louisiana 2 - - -
  Oklahoma 1 10M - -
  California 1 51M - -
Canada 1 8M 1 -
  Alberta 1 8M 1 -
Domestic 5 (83%) 61M (88%) 2 (67%) 24M (100%)
Cross-border 1 (17%) 8M (12%) 1 (33%) -
Total 6 $69M 3 $24M

Top M&A Advisors

Legal Deals
Gibson, Dunn & Crutcher
1

Deal Values

buy # Total
< $100M 3 $69M
TOTAL $69M
Largest Western Drilling, Inc.
$51M (2008-04-03)
sell # Total
< $100M 1 $24M
TOTAL $24M
Largest Key Energy Services, Inc. - Frac Stack & Well Testing Assets
$24M (2017-06-13)

M&A Connections

Deals
Divested to
Strategic(s)
100%
3 (100%)

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