M&A Deal Summary

Oil States International Acquires Falcon Flowback Services

On February 28, 2018, Oil States International acquired test/measurement equipment company Falcon Flowback Services from Argonaut Private Equity for 85M USD

Acquisition Highlights
  • This is Oil States International’s 1st transaction in the Test/Measurement Equipment sector.
  • This is Oil States International’s 2nd largest (disclosed) transaction.
  • This is Oil States International’s 4th transaction in the United States.
  • This is Oil States International’s 1st transaction in Oklahoma.

M&A Deal Summary

Date 2018-02-28
Target Falcon Flowback Services
Sector Test/Measurement Equipment
Buyer(s) Oil States International
Sellers(s) Argonaut Private Equity
Deal Type Add-on Acquisition
Deal Value 85M USD
Advisor(s) Simmons & Company
Piper Jaffray Companies (Financial)

Target

Falcon Flowback Services

Oklahoma City, Oklahoma, United States
Falcon Flowback Services LLC is a full-service provider of flowback and well testing services for the separation and recovery of fluids, solid debris and proppant used during hydraulic fracturing operations.

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Buyer(S) 1

Buyer

Oil States International

Houston, Texas, United States

Category Company
Founded 1995
Sector Energy Services and Equipment
Employees2,338
Revenue 782M USD (2023)
DESCRIPTION

Oil States International is an oilfield services company with a market position as a manufacturer of products for deepwater production facilities and certain drilling equipment, as well as a provider of completion services and land drilling services to the oil and gas industry. Oil States International was founded in 1995 and is based in Houston, Texas.


DEAL STATS #
Overall 5 of 5
Sector (Test/Measurement Equipment) 1 of 1
Type (Add-on Acquisition) 5 of 5
State (Oklahoma) 1 of 1
Country (United States) 4 of 4
Year (2018) 1 of 1
Size (of disclosed) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-12-12 GEODynamics

Millsap, Texas, United States

GEODynamics, Inc. is specializes in the manufacturing, assembly, and sale of high performance perforating systems for domestic and international service companies around the globe. GEODynamics shaped charge portfolio includes conventional charges; its patented CONNEX® product line, which generates a secondary reaction under pressure to clear the perforating tunnel; and its RaZor® product line, which has demonstrated industry leading penetration depth.

Buy $525M

Seller(S) 1

SELLER

Argonaut Private Equity

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2002
PE ASSETS 2.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Argonaut Private Equity is a private equity firm focused on control investments in entrepreneur and family-owned businesses headquartered in the middle region of the US. The Firm seeks industrial oriented manufacturing, distribution, and service companies with revenue between $20 and $300 million and EBITDA between $5 and $50 million. Argonaut typically commits $15 to $100 million per transaction to support buy-outs, distressed and special situations, growth needs, and divestitures. Argonaut Private Equity was founded in 2002 and is based in Tulsa, Oklahoma.


DEAL STATS #
Overall 7 of 11
Sector (Test/Measurement Equipment) 1 of 1
Type (Add-on Acquisition) 4 of 6
State (Oklahoma) 4 of 6
Country (United States) 7 of 11
Year (2018) 2 of 2
Size (of disclosed) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-01-09 Alkami

Plano, Texas, United States

Alkami provides online and mobile banking solutions for financial institutions in the US. Based in Plano, Texas, the company’s cloud-based digital banking platform delivers unparalleled functionality, security, flexibility, and extensibility with a superior architecture designed for the future of digital banking. With its modern interface, fully hosted business intelligence solution, and customizable feature set, the platform is the ultimate digital banking solution for financial institutions. Alkami was founded in 2009 and is based in Plano, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-10-15 Nichols Oil Tools

Jacksboro, United States

Nichols Oil Tools is a provider of oilfield services in the Permian Basin. The Company’s service offerings include pump down, laydown, inspection, mixing plant, pipe, fishing and rental. Nichols Oil Tools was founded in 2013 and is based in Jacksboro, Texas.

Buy -