M&A Deal Summary

URS Acquires Flint Energy Services

On May 14, 2012, URS acquired energy services and equipment company Flint Energy Services from SCF Partners for 1.3B USD

Acquisition Highlights
  • This is URS’s 1st transaction in the Energy Services and Equipment sector.
  • This is URS’s 2nd largest (disclosed) transaction.
  • This is URS’s 1st transaction in Canada.
  • This is URS’s 1st transaction in Alberta.

M&A Deal Summary
Date 2012-05-14
Target Flint Energy Services
Sector Energy Services and Equipment
Buyer(s) URS
Sellers(s) SCF Partners
Deal Type Add-on Acquisition
Deal Value 1.3B USD
Advisor(s) Credit Suisse Investment Banking (Financial)
Bennett Jones (Legal)

Target

Flint Energy Services

Calgary, Alberta, Canada
Flint Energy Services Ltd., providing an expanding range of integrated products and services for the energy industry including production services; field construction; oilfield transportation; process equipment design and manufacturing; tubular management services; and plant management and maintenance services. Flint provides this unique breadth of products and services through over 60 strategic locations in the oil and gas producing areas of western North America, from Inuvik in the Northwest Territories to Mission, Texas on the Mexican border. Flint is a preferred provider of infrastructure construction management, module fabrication, and maintenance services for upgrading and production facilities in Alberta's oil sands sector.

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Buyer(S) 1

Buyer

URS

San Francisco, California, United States
Category Company
Founded 1904
Sector Construction
Employees50,000
Revenue 11.0B USD (2014)
DESCRIPTION

URS provider of engineering, construction, and technical services for public agencies and private sector companies around the world. The company offers a full range of program management; planning, design and engineering; systems engineering and technical assistance.

DEAL STATS #
Overall 10 of 10
Sector (Energy Services and Equipment) 1 of 1
Type (Add-on Acquisition) 10 of 10
State (Alberta) 1 of 1
Country (Canada) 1 of 1
Year (2012) 1 of 1
Size (of disclosed) 2 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-04-27 Apptis

Chantilly, Virginia, United States

Apptis, Inc., is a privately held company in the federal information technology services sector. Apptis provides end-to-end enterprise solutions (both products and services) to a wide range of federal government agencies, with low perceived risk of budgetary cutbacks.

Buy $260M

Seller(S) 1

SELLER

SCF Partners

Houston, Texas, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1989
PE ASSETS 2.0B USD
Size Large
Type Sector Focused
DESCRIPTION

SCF Partners Ltd. is a specialist private equity firm that targets investments in energy service and equipment companies with operations around the world. SCF provides both equity capital and strategic guidance over the life of the investment which typically lasts five years. The Firm's target investment size is $10 to $100 million. SCF looks to grow portfolio companies through internal growth initiatives and through acquisitions. SCF Partners was formed in 1989 and is based in Houston, Texas, with additional offices in Aberdeen, Scotland and Calgary, Alberta.

DEAL STATS #
Overall 16 of 23
Sector (Energy Services and Equipment) 5 of 10
Type (Add-on Acquisition) 4 of 8
State (Alberta) 2 of 4
Country (Canada) 3 of 5
Year (2012) 2 of 2
Size (of disclosed) 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-05-01 CDK Perforating

Ulster, Pennsylvania, United States

CDK Perforating provides a range of completion and production services from cased-hole completions and ongoing remedial services including pressure control and pipe recovery, as well as retrievable bridge plug and TCP services. The company operates in Texas, Oklahoma, Ohio, West Virginia and Pennsylvania. CDK Perforating was founded in 2006 and is based in Ulster, Pennsylvania.

Buy $32M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-07-31 Beckman Production Services

Kalkaska, Michigan, United States

Beckman Production Services, Inc. is a well servicing company that operates completion and workover rigs, swabbing units, hot oilers, high pressure pump trucks, anchor setting trucks, wireline units, vacuum trucks, crude oil trucks and tankers licensed to haul non-hazardous liquid waste and crude oil.

Buy -
Mergr

Product

Company

Legal