M&A Deal Summary

Logan International Acquires Smith International - Drilling Jar Product Line

On April 1, 2013, Logan International acquired distribution company Smith International - Drilling Jar Product Line from Smith International for 17M USD

Acquisition Highlights
  • This is Logan International’s 1st transaction in the Distribution sector.
  • This is Logan International’s 2nd largest (disclosed) transaction.
  • This is Logan International’s 2nd transaction in the United States.
  • This is Logan International’s 1st transaction in Texas.

M&A Deal Summary
Date 2013-04-01
Target Smith International - Drilling Jar Product Line
Sector Distribution
Buyer(s) Logan International
Sellers(s) Smith International
Deal Type Divestiture
Deal Value 17M USD

Target

Smith International - Drilling Jar Product Line

Houston, Texas, United States
Smith International, Inc. - Drilling Jar Product Line is a distributor of Sup-R-Jar drilling jar line in US.

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Buyer(S) 1

Buyer

Logan International

Houston, Texas, United States
Category Company
Founded 1993
Sector Energy Services and Equipment
DESCRIPTION

Logan International, Inc. is a manufacturer and seller of fishing and intervention tools in North America and internationally. Logan's quality fishing and intervention tools, including retrieving, stroking, and remedial tools, and power swivels are used in well work-over, intervention, drilling, and completion activities across the globe.

DEAL STATS #
Overall 3 of 3
Sector (Distribution) 1 of 1
Type (Divestiture) 1 of 1
State (Texas) 1 of 1
Country (United States) 2 of 2
Year (2013) 1 of 1
Size (of disclosed) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-03-05 Xtend Energy Services

Okotoks, Alberta, Canada

Xtend Energy Services is a private energy services company that focuses on developing tools which mitigate the effects of friction in deviated and horizontal well bores.

Buy $53M

Seller(S) 1

SELLER

Smith International

Houston, Texas, United States
Category Company
Founded 1936
Sector Distribution
Employees21,000
DESCRIPTION

Smith International, Inc. is a supplier of products and services to the oil and gas exploration and production industry, the petrochemical industry and other industrial markets.

DEAL STATS #
Overall 1 of 1
Sector (Distribution) 1 of 1
Type (Divestiture) 1 of 1
State (Texas) 1 of 1
Country (United States) 1 of 1
Year (2013) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-06-03 W-H Energy Services

Houston, Texas, United States

W-H Energy Services, Inc. is an oilfield service company, together with its subsidiaries, provides products and services for the drilling and completion of oil and natural gas wells, and the production of oil and natural gas in North America and international areas. The company operates through two segments, Drilling Related Products and Services, and Completion and Work over Related Products and Services.

Buy $3.2B
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