M&A Deal Summary

Baker Hughes Acquires BJ Services

On August 31, 2010, Baker Hughes acquired energy services and equipment company BJ Services for 5.5B USD

Acquisition Highlights
  • This is Baker Hughes’ 5th transaction in the Energy Services and Equipment sector.
  • This is Baker Hughes’ largest (disclosed) transaction.
  • This is Baker Hughes’ 6th transaction in the United States.
  • This is Baker Hughes’ 3rd transaction in Texas.

M&A Deal Summary
Date 2010-08-31
Target BJ Services
Sector Energy Services and Equipment
Buyer(s) Baker Hughes
Deal Type Add-on Acquisition
Deal Value 5.5B USD
Advisor(s) Greenhill & Co., Inc. (Financial)
Skadden, Arps, Slate, Meagher & Flom
Andrews Kurth Kenyon LLP (Legal)

Target

BJ Services

Houston, Texas, United States
BJ Services Company is a provider of pressure pumping, well completion, production enhancement and pipeline services to the petroleum industry.

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Buyer(S) 1

Buyer

Baker Hughes

Houston, Texas, United States
Category Company
Sector Energy Services and Equipment
Employees57,000
Revenue 25.5B USD (2023)
DESCRIPTION

Baker Hughes is a provider of oilfield services, products, technology and systems to the worldwide oil and natural gas industry. The company operates in more than 80 countries helping customers find, evaluate, drill, produce, transport and process hydrocarbon resources. Baker Hughes is headquartered in Houston, Texas.

DEAL STATS #
Overall 11 of 21
Sector (Energy Services and Equipment) 5 of 8
Type (Add-on Acquisition) 10 of 16
State (Texas) 3 of 7
Country (United States) 6 of 11
Year (2010) 3 of 5
Size (of disclosed) 1 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-08-17 Tanroc Equipment

Lloydminster, Alberta, Canada

Tanroc primarily supplies progressing cavity pumping (PCP) systems and surface production equipment, including variable frequency drives for downhole pumping systems and wellhead drives. Since 2006, Tanroc has provided service, repair and distribution for PCP systems in Canada from its primary facility in Lloydminster and smaller service centers in Bonnyville and Wabasca, Alberta.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-09-21 Meyer & Associates

Natrona Heights, Pennsylvania, United States

Meyer & Associates is a petroleum industry software developer. Meyer & Associates’ MFrac software provides comprehensive design and evaluation simulations, containing a variety of options including three-dimensional fracture geometry and integrated acid fracturing solutions, for hydraulic fracturing, produced water and cuttings reinjection applications.

Buy -
Mergr

Product

Company

Legal