M&A Deal Summary

Baker Hughes Acquires Western Rock Bit Company Limited

On March 3, 1998, Baker Hughes acquired distribution company Western Rock Bit Company Limited for 31M USD

Acquisition Highlights
  • This is Baker Hughes’ 1st transaction in the Distribution sector.
  • This is Baker Hughes’ 5th largest (disclosed) transaction.
  • This is Baker Hughes’ 1st transaction in Canada.
  • This is Baker Hughes’ 1st transaction in Alberta.

M&A Deal Summary
Date 1998-03-03
Target Western Rock Bit Company Limited
Sector Distribution
Buyer(s) Baker Hughes
Deal Type Add-on Acquisition
Deal Value 31M USD

Target

Western Rock Bit Company Limited

Calgary, Alberta, Canada
Western Rock Bit is Baker Hughes' exclusive licensee and distributor for Hughes Christensen bits in Canada.

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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 3 of 21
Sector (Distribution) 1 of 1
Type (Add-on Acquisition) 2 of 16
State (Alberta) 1 of 3
Country (Canada) 1 of 3
Year (1998) 1 of 1
Size (of disclosed) 5 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1997-06-24 Oil Dynamics

Tulsa, Oklahoma, United States

ODI is a manufacturer of electric submersible pumps used to lift crude oil in producing regions worldwide.

Sell $32M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2005-12-02 Zeroth Technology Limited

Dyce, United Kingdom

Zertech has developed and patented a unique, non-elastomer, expandable metal sealing element that is currently marketed in well intervention applications. Zertech's current customers include major oil and gas exploration and production companies in the United Kingdom, Norway and the Middle East. Interest in its sealing technology is growing in other producing areas of the world.

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