M&A Deal Summary

NOV Acquires Flotek Industries - Drilling Technologies Division

On May 2, 2017, NOV acquired energy services and equipment company Flotek Industries - Drilling Technologies Division from Flotek for 17M USD

Acquisition Highlights
  • This is NOV’s 18th transaction in the Energy Services and Equipment sector.
  • This is NOV’s 12th largest (disclosed) transaction.
  • This is NOV’s 13th transaction in the United States.
  • This is NOV’s 10th transaction in Texas.

M&A Deal Summary
Date 2017-05-02
Target Flotek Industries - Drilling Technologies Division
Sector Energy Services and Equipment
Buyer(s) NOV
Sellers(s) Flotek
Deal Type Divestiture
Deal Value 17M USD

Target

Flotek Industries - Drilling Technologies Division

Houston, Texas, United States
Flotek Industries - Drilling Technologies Division has been a foundation of Flotek for well over a decade and its resiliency through the cycles has been a testament to the proprietary equipment and high impact employees. Advanced, robust survey and MWD tools delivered by Teledrift improve drilling efficiency and reduce operating costs.

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Buyer(S) 1

Buyer

NOV

Houston, Texas, United States
Category Company
Founded 1862
Sector Energy Services and Equipment
Employees33,676
Revenue 8.6B USD (2023)
DESCRIPTION
Entrance to National Oilwell Varco's corporate headquarters in Houston, Texas.
Entrance to National Oilwell Varco's corporate headquarters in Houston, Texas.

NOV is a provider of equipment and components used in oil and gas drilling and production operations, oilfield services, and supply chain integration services to the upstream oil and gas industry. NOV was formed in 1862 and is based in Houston, Texas.

DEAL STATS #
Overall 26 of 29
Sector (Energy Services and Equipment) 18 of 21
Type (Divestiture) 5 of 6
State (Texas) 10 of 11
Country (United States) 13 of 15
Year (2017) 1 of 1
Size (of disclosed) 12 of 12
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-10-27 Fjords Processing AS

Fornebu, Norway

Fjords Processing AS is a provider of wellstream processing technology, systems and services to the upstream oil and gas industry.

Buy Nkr1.2B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-06-04 GustoMSC BV

Schiedam, Netherlands

GustoMSC designs, engineers, and provides patented equipment for offshore drilling rigs and vessels used for energy exploration, production, and construction, including for wind farm installation and maintenance.

Buy -

Seller(S) 1

SELLER

Flotek

Houston, Texas, United States
Category Company
Founded 1985
Sector Energy Services and Equipment
Employees131
Revenue 188M USD (2023)
DESCRIPTION

Flotek is a diversified global supplier of drilling and production products and services to the energy and mining industries. Flotek Industries was founded in 1985 and is based in Houston, Texas.

DEAL STATS #
Overall 1 of 2
Sector (Energy Services and Equipment) 1 of 1
Type (Divestiture) 1 of 2
State (Texas) 1 of 1
Country (United States) 1 of 2
Year (2017) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-07-27 International Polymerics

Dalton, Georgia, United States

International Polymerics, Inc. is based in Dalton, Georgia with a distribution center in Monahans, Texas and is one of the largest domestic suppliers of natural polymers, including guar, to the oil and gas industry. IPI was founded by Donald Bramblett, a leading expert of natural polymers and the development of guar applications in the energy and textile trades. IPI’s proprietary guar processing systems have provided high-quality guar powder and slurry to oil and gas clients for nearly a decade in nearly every producing basin in the United States.

Buy $8M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-01-11 Florida Chemical

Winter Haven, Florida, United States

Florida Chemical Co. Inc. produces a wide range of high-value citrus flavor ingredients, specialty terpenes, and formulated products primarily for the flavor, fragrance and consumer products markets. Their innovative, high-quality on-trend products match consumer preferences for a natural, clean label and reduced sugar foods and beverages.

Sell -
Mergr

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