M&A Deal Summary

Komatsu Mining Acquires LeTourneau Technologies

On May 16, 2011, Komatsu Mining acquired energy services and equipment company LeTourneau Technologies from Rowan Companies for 1.1B USD

Acquisition Highlights
  • This is Komatsu Mining’s 1st transaction in the Energy Services and Equipment sector.
  • This is Komatsu Mining’s largest (disclosed) transaction.
  • This is Komatsu Mining’s 2nd transaction in the United States.
  • This is Komatsu Mining’s 1st transaction in Texas.

M&A Deal Summary
Date 2011-05-16
Target LeTourneau Technologies
Sector Energy Services and Equipment
Buyer(s) Komatsu Mining
Sellers(s) Rowan Companies
Deal Type Divestiture
Deal Value 1.1B USD

Target

LeTourneau Technologies

Houston, Texas, United States
LeTourneau designs, builds and supports equipment for the mining and oil and gas drilling industries.

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Buyer(S) 1

Buyer

Komatsu Mining

Milwaukee, Wisconsin, United States
Category Company
Founded 1884
Sector Machinery
Employees13,400
Revenue 3.2B USD (2015)
DESCRIPTION

Komatsu Mining is a producer of high-productivity mining solutions. The Company manufactures and markets original equipment and aftermarket parts and services for the mining sector. Joy Global's products and related services are used extensively for the mining of coal, copper, iron ore, oil sands, gold, and other mineral resources. Komatsu Mining was formerly known as Joy Global. The Company was established in 1884 and is based in Milwaukee, Wisconsin.

DEAL STATS #
Overall 3 of 7
Sector (Energy Services and Equipment) 1 of 1
Type (Divestiture) 3 of 4
State (Texas) 1 of 1
Country (United States) 2 of 2
Year (2011) 1 of 2
Size (of disclosed) 1 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-12-22 Wuxi Shengda Machinery

Wuxi, China

Wuxi Shengda, a Chinese manufacturer of longwall shearing machines.

Buy $22M
FOLLOWING 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.

Sell $375M

Seller(S) 1

SELLER

Rowan Companies

Houston, Texas, United States
Category Company
Founded 1923
Sector Energy Services and Equipment
Employees3,496
Revenue 2.1B USD (2015)
DESCRIPTION

Rowan Companies Plc is a provider of international contract drilling services in the ultra-deepwater and shallow water jack-up market with a fleet of 34 offshore drilling units, including four ultra-deepwater drillships, one of which is currently under construction, and 30 jack-up rigs, 19 of which are rated high-specification. Rowan Companies was founded in 1923 and is based in Houston, Texas.

DEAL STATS #
Overall 1 of 1
Sector (Energy Services and Equipment) 1 of 1
Type (Divestiture) 1 of 1
State (Texas) 1 of 1
Country (United States) 1 of 1
Year (2011) 1 of 1
Size (of disclosed) 1 of 1
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