M&A Deal Summary

Cameron International Acquires TTS Energy Division

On June 6, 2012, Cameron International acquired machinery company TTS Energy Division from TTS Group ASA for 270M USD

Acquisition Highlights
  • This is Cameron International’s 2nd transaction in the Machinery sector.
  • This is Cameron International’s 3rd largest (disclosed) transaction.
  • This is Cameron International’s 1st transaction in Norway.

M&A Deal Summary
Date 2012-06-06
Target TTS Energy Division
Sector Machinery
Buyer(s) Cameron International
Sellers(s) TTS Group ASA
Deal Type Divestiture
Deal Value 270M USD

Target

TTS Energy Division

Norway
TTS Energy Division delivers high performance drilling equipment, rig packages and rig solutions for both the jack-up and onshore rigs to the international energy industry. TTS Energy products include drilling rig control systems, top drives, traveling blocks, automated pipe handling, iron rough necks, drawworks, derrick structures, drill floor tools, fingerboards, BOP handling equipment, deadline anchors, and drill line spoolers.

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Buyer(S) 1

Buyer

Cameron International

Houston, Texas, United States
Category Company
Founded 1833
Sector Energy Services and Equipment
Employees28,000
Revenue 10.4B USD (2014)
DESCRIPTION
Cameron International office in Houston, Texas.
Cameron International office in Houston, Texas.

Cameron International Corp. is a provider of flow equipment products, systems and services to the global oil and gas sector. Cameron International was formed in 1833 and is based in Houston, Texas.

DEAL STATS #
Overall 11 of 14
Sector (Machinery) 2 of 3
Type (Divestiture) 2 of 2
Country (Norway) 1 of 1
Year (2012) 1 of 2
Size (of disclosed) 3 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-10-24 LeTourneau Technologies - Drilling Products Business

Houston, Texas, United States

LeTourneau's drilling products business is a leading designer of offshore jack-up drilling rigs as well as a manufacturer of the primary components for these rigs. It is also a major manufacturer of drilling equipment for large land and offshore rigs and of specialty steel products.

Buy $375M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-12-01 ICI Artificial Lift

Edmonton, Alberta, Canada

ICI Artificial Lift is an Edmonton based company that designs, manufactures, services and sells its patented line of Hydraulic Pumping Units for artificial lift.

Buy -

Seller(S) 1

SELLER

TTS Group ASA

Bergen, Norway
Category Company
Founded 1966
Sector Machinery
Employees1,053
Revenue 2.5B NOK (2014)
DESCRIPTION

TTS Group ASA, designs, develops and supplies equipment solutions and services for the marine and offshore industries. TTS offers solutions that increase profitability and competitiveness by improving productivity, quality and system capacities.

DEAL STATS #
Overall 1 of 1
Sector (Machinery) 1 of 1
Type (Divestiture) 1 of 1
Country (Norway) 1 of 1
Year (2012) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-04-30 Sense EDM AS

Kristiansand, Norway

Sense EDM AS is a supplier of intelligent rigs, innovative tubular handling systems and control systems to the international oil & gas industry.

Buy -
Mergr

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