M&A Deal Summary

Lufkin Acquires Q2 Artificial Lift Services

On September 6, 2011, Lufkin acquired energy services and equipment company Q2 Artificial Lift Services for 311M USD

Acquisition Highlights
  • This is Lufkin’s 1st transaction in the Energy Services and Equipment sector.
  • This is Lufkin’s largest (disclosed) transaction.
  • This is Lufkin’s 1st transaction in Canada.
  • This is Lufkin’s 1st transaction in Alberta.
Investment Fate
  • Q2 Artificial Lift Services was divested to a consortium of buyers in 2017.

M&A Deal Summary
Date 2011-09-06
Target Q2 Artificial Lift Services
Sector Energy Services and Equipment
Buyer(s) Lufkin
Deal Type Add-on Acquisition
Deal Value 311M USD

Target

Q2 Artificial Lift Services

Red Deer, Alberta, Canada
Q2 Artificial Lift Services is a manufacturer of high-quality downhole rod pumps and components as well as provides specialized aftermarket repair services from 24 service locations strategically located throughout the oil and gas producing areas of the US and Canada. Q2 Artificial Lift Services was founded in 2016 and is based in Red Deer, Alberta.

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Buyer(S) 1

Buyer

Lufkin

Missouri City, Texas, United States
Category Company
Founded 1902
Sector Machinery
Employees4,400
Revenue 1.3B USD (2012)
DESCRIPTION

Lufkin is a global provider of rod lift products, technologies, services and solutions, including automated control and optimization equipment and software for rod lift equipment to the oil and gas industry. Lufkin manufactures a complete line of surface pumping units, downhole sucker rod pumps and automation systems in six manufacturing and assembly facilities worldwide. Lufkin has an extensive global service footprint that operates throughout the oil-producing world. Lufkin was founded in 1902 and is based in Missouri City, Texas.

DEAL STATS #
Overall 2 of 5
Sector (Energy Services and Equipment) 1 of 2
Type (Add-on Acquisition) 2 of 4
State (Alberta) 1 of 1
Country (Canada) 1 of 1
Year (2011) 1 of 1
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2009-07-01 Rotating Machinery Technology

Wellsville, New York, United States

Rotating Machinery Technology, Inc. is a designer and manufacturer bearings and seals for the turbo machinery industry.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-02-29 Zenith Oilfield Technology

Inverurie, United Kingdom

Zenith Oilfield Technology Ltd designs, develops, assembles and supports leading edge solutions related to the gathering and analysis of oil well data and the design of downhole completion equipment.

Buy £81M
Mergr

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