M&A Deal Summary

Hunting Acquires Titan Specialties

On August 5, 2011, Hunting acquired manufacturer Titan Specialties from The Carlyle Group and Riverstone Holdings for 775M USD

Acquisition Highlights
  • This is Hunting’s 1st transaction in the Manufacturing sector.
  • This is Hunting’s largest (disclosed) transaction.
  • This is Hunting’s 1st transaction in the United States.
  • This is Hunting’s 1st transaction in Texas.

M&A Deal Summary
Date 2011-08-05
Target Titan Specialties
Sector Manufacturing
Buyer(s) Hunting
Sellers(s) The Carlyle Group
Riverstone Holdings
Deal Type Add-on Acquisition
Deal Value 775M USD
Advisor(s) Goldman Sachs (Financial)
Vinson & Elkins (Legal)

Target

Titan Specialties

Pampa, Texas, United States
Titan Specialties, Ltd. manufactures perforating guns and charges and other oilfield equipment.

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Buyer(S) 1

Buyer

Hunting

London, United Kingdom
Category Company
Founded 1874
Sector Oil/Gas Exploration
Employees2,420
Revenue 929M USD (2023)
DESCRIPTION

Hunting together designs and manufactures perforating systems, energetics, instrumentation, and associated hardware; connection technology and OCTG; subsea technologies; supplies highly engineered tubular components, hollow rotating shafts, very accurate deep hole drilling, plus complex turned, and milled profiles; well intervention equipment; and well test and process systems. It also manufactures electronic parts for the energy, medical, defense, and aerospace sectors; provides trenchless technologies, which include drill pipe, tooling products, and conversion roadmaps; and innovative MWD solutions for gyro, steering tool, and running gear; and organic oil recovery technology. Hunting was founded in 1874 and is based in London, United Kingdom.

DEAL STATS #
Overall 1 of 5
Sector (Manufacturing) 1 of 1
Type (Add-on Acquisition) 1 of 4
State (Texas) 1 of 3
Country (United States) 1 of 4
Year (2011) 1 of 3
Size (of disclosed) 1 of 3
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-08-15 Dearborn Precision Tubular Products

Fryeburg, Maine, United States

Dearborn is a manufacturer of high precision tubular and rotating components used primarily for oil and gas MWD and LWD housing components, power generation turbine shafts and aerospace turbine and rotor shafts.

Buy $84M

Seller(S) 2

SELLER

The Carlyle Group

Washington, District of Columbia, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1987
PE ASSETS 435.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION
Carlyle's corporate headquarters on Pennsylvania Ave. in Washington, DC.
Carlyle's corporate headquarters on Pennsylvania Ave. in Washington, DC.

The Carlyle Group is a global investment firm that pursues private equity, credit, and real estate investments worldwide. Carlyle's private equity practice practice pursues buyouts, strategic minority equity investments, equity private placements, consolidations and buildups, and growth capital financings. With offices in 19 countries, Carlyle can easily target opportunities throughout North America, Europe, Asia, Australia, the Middle East/North Africa and Latin America. Broad sectors of interest include aerospace, defense, automotive and transportation, consumer, retail, energy and power, financial services, healthcare, industrial, infrastructure, technology services, business services, telecommunications and media. The Carlyle Group was formed in 1987 and is based in Washington DC.

DEAL STATS #
Overall 181 of 480
Sector (Manufacturing) 6 of 16
Type (Add-on Acquisition) 89 of 197
State (Texas) 21 of 38
Country (United States) 119 of 259
Year (2011) 20 of 28
Size (of disclosed) 44 of 135
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-08-01 Phoenix Exploration

Houston, Texas, United States

Phoenix Exploration Co. is an oil and gas E&P company focused on the shallow waters in the Gulf of Mexico and the onshore Gulf Coast, primarily in Louisiana.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-08-24 Value & Budget Housing

Bangalore, India

Value & Budget Housing Corp. is a pioneer in the construction and development of affordable entry level housing in India.

Buy -
SELLER

Riverstone Holdings

New York, New York, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2000
PE ASSETS 40.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

Riverstone Holdings is a large specialist asset management and private equity firm focused on opportunities in the energy and power industry. Specific areas of interest include oil & gas exploration, midstream transportation/logistics, electric generation, energy & power service, power infrastructure, and energy & power technology. Riverstone Holdings was formed in 2000 and is based in New York, New York.

DEAL STATS #
Overall 22 of 57
Sector (Manufacturing) 1 of 1
Type (Add-on Acquisition) 10 of 30
State (Texas) 12 of 26
Country (United States) 18 of 42
Year (2011) 5 of 7
Size (of disclosed) 12 of 19
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-08-01 Phoenix Exploration

Houston, Texas, United States

Phoenix Exploration Co. is an oil and gas E&P company focused on the shallow waters in the Gulf of Mexico and the onshore Gulf Coast, primarily in Louisiana.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-09-01 White Rose Energy Ventures

London, United Kingdom

White Rose Energy Ventures LLP is an exploration and production company focused on onshore and offshore basins in West Africa. The management team seeks to build a portfolio of assets, geographically diversified across multiple jurisdictions, and diversified by stage across exploration, development, and production. White Rose is headquartered in London, U.K.

Buy -
Mergr

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Company

Legal