M&A Deal Summary

Expro International Group Acquires Power Well Services

On June 14, 2006, Expro International Group acquired energy services and equipment company Power Well Services from First Reserve for 674M USD

Acquisition Highlights
  • This is Expro International Group’s 1st transaction in the Energy Services and Equipment sector.
  • This is Expro International Group’s largest (disclosed) transaction.
  • This is Expro International Group’s 1st transaction in the United States.
  • This is Expro International Group’s 1st transaction in Texas.

M&A Deal Summary
Date 2006-06-14
Target Power Well Services
Sector Energy Services and Equipment
Buyer(s) Expro International Group
Sellers(s) First Reserve
Deal Type Add-on Acquisition
Deal Value 674M USD

Target

Power Well Services

Houston, Texas, United States
Power Well Services was established in February 2004 when First Reserve acquired Power Chokes, a U.S. oilfield choke rental and service company that provides critical components and systems in several applications synergistic to well testing.

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Buyer(S) 1

Buyer

Expro International Group

Reading, United Kingdom
Category Company
Founded 1973
Sector Oil/Gas Exploration
DESCRIPTION

Exploration & Production Services - was owned by Flextech. The company provided a small, highly specialised range of services to the oil and gas industry worldwide, including major oil companies such as BP and Shell. Because of the highly specialised nature of its services, Expro was able to command high margins and had been consistently well managed and profitable for a number of years.

DEAL STATS #
Overall 1 of 2
Sector (Energy Services and Equipment) 1 of 1
Type (Add-on Acquisition) 1 of 2
State (Texas) 1 of 1
Country (United States) 1 of 2
Year (2006) 1 of 1
Size (of disclosed) 1 of 2
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-01-16 CiDRA

Wallingford, Connecticut, United States

CiDRA develops instrumentation solutions for measurement, monitoring, and control applications. The company offers flow and entrained air measurement, entrained air measurement, and grind management products. CiDRA was founded in 1990 and is based in Wallingford, Connecticut.

Buy $61M

Seller(S) 1

SELLER

First Reserve

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1983
PE ASSETS 32.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

First Reserve is a specialist private equity firm focused on investments in energy companies. First Reserve targets equity investments of $50 to $500 million in companies valued from $100 million to $10 billion. Target areas of interest within the energy industry include energy manufacturing and services (drilling service providers and wellhead equipment manufacturers), energy infrastructure, energy reserves, renewable energy and alternative fuels, and energy related insurance and financial products. First Reserve was established in 1983 and is based in Stamford, Connecticut.

DEAL STATS #
Overall 15 of 57
Sector (Energy Services and Equipment) 6 of 19
Type (Add-on Acquisition) 6 of 19
State (Texas) 8 of 20
Country (United States) 12 of 38
Year (2006) 3 of 5
Size (of disclosed) 11 of 16
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-05-01 CiDRA

Wallingford, Connecticut, United States

CiDRA develops instrumentation solutions for measurement, monitoring, and control applications. The company offers flow and entrained air measurement, entrained air measurement, and grind management products. CiDRA was founded in 1990 and is based in Wallingford, Connecticut.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2006-06-15 Ohmstede

Beaumont, Texas, United States

Ohmstede is a manufacturer of engineered shell and tube heat exchangers in North America, as well as replacement tube bundles, parts, and aftermarket shop repair. Ohmstede also provides specialty services related to the on-going repair and maintenance of heat exchangers and related ancillary equipment at customers' facilities.

Buy -
Mergr

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