M&A Deal Summary

NOV Acquires Trican Well Service - Completion Tools Business

On June 1, 2016, NOV acquired machinery company Trican Well Service - Completion Tools Business from Trican Well Service for 54M CAD

Acquisition Highlights
  • This is NOV’s 3rd transaction in the Machinery sector.
  • This is NOV’s 10th largest (disclosed) transaction.
  • This is NOV’s 3rd transaction in Canada.
  • This is NOV’s 3rd transaction in Alberta.

M&A Deal Summary
Date 2016-06-01
Target Trican Well Service - Completion Tools Business
Sector Machinery
Buyer(s) NOV
Sellers(s) Trican Well Service
Deal Type Divestiture
Deal Value 54M CAD

Target

Trican Well Service - Completion Tools Business

Calgary, Alberta, Canada
Trican Well Service Ltd. - Completion Tools Business design and sells range of innovative and patented downhole tools for multi-stage fracturing and multi-zone completions in North America and select international markets.

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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 24 of 29
Sector (Machinery) 3 of 3
Type (Divestiture) 3 of 6
State (Alberta) 3 of 3
Country (Canada) 3 of 3
Year (2016) 1 of 2
Size (of disclosed) 10 of 12
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-04-21 Seabox AS

Sandnes, Norway

Seabox AS is a Norwegian subsea technology company founded around the patented SWIT technology (Subsea Water Intake & Treatment).

Buy -
FOLLOWING 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

Seller(S) 1

SELLER

Trican Well Service

Calgary, Alberta, Canada
Category Company
Founded 1979
Sector Energy Services and Equipment
Employees1,195
Revenue 973M CAD (2023)
DESCRIPTION

Trican Well Service is a provider of specialized products, equipment and services that are used during the exploration and development of oil and gas reserves. Trican Well Service was founded in 1979 and is based in Calgary, Canada.

DEAL STATS #
Overall 2 of 2
Sector (Machinery) 1 of 1
Type (Divestiture) 2 of 2
State (Alberta) 1 of 1
Country (Canada) 1 of 1
Year (2016) 2 of 2
Size (of disclosed) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-01-26 Trican Well Service - U.S. Assets

United States

Trican Well Service - U.S. Assets is a provider of equipment and services for oil and gas industry in US.

Sell $247M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-03-22 Canyon Services Group

Calgary, Alberta, Canada

Canyon Services Group Inc. is a Calgary based publicly traded company that provides fracturing and well stimulation services. Canyon Services Group was founded in 1979 and is based in Calgary, Alberta.

Buy $637M
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