M&A Deal Summary

Valaris Acquires Pride International

On May 31, 2011, Valaris acquired energy services and equipment company Pride International for 7.3B USD

Acquisition Highlights
  • This is Valaris’ 3rd transaction in the Energy Services and Equipment sector.
  • This is Valaris’ largest (disclosed) transaction.
  • This is Valaris’ 3rd transaction in the United States.
  • This is Valaris’ 3rd transaction in Texas.

M&A Deal Summary
Date 2011-05-31
Target Pride International
Sector Energy Services and Equipment
Buyer(s) Valaris
Deal Type Add-on Acquisition
Deal Value 7.3B USD
Advisor(s) Goldman Sachs (Financial)
Baker Botts
Wachtell, Lipton, Rosen & Katz (Legal)

Target

Pride International

Houston, Texas, United States
Pride International, Inc., is a provider of contract drilling and associated services related to the oil and gas exploration and production industry, both onshore and offshore. Pride currently operates a fleet of 328 rigs, including 2 ultra-deepwater drill ships, 12 semi-submersible rigs, 35 jackup rigs, 5 tender-assisted rigs, 3 barge rigs, 21 offshore platform rigs and 250 land-based drilling and workover rigs.

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Buyer(S) 1

Buyer

Valaris

Hamilton, Bermuda
Category Company
Founded 2009
Sector Energy Services and Equipment
Employees4,261
Revenue 1.8B USD (2023)
DESCRIPTION

Valaris is an offshore drilling service company that provides offshore drilling services to the petroleum industry. Valaris provides drilling services across all water depths with unmatched scale, geographic presence, and customer relationships. Valaris was founded in 2009 and is based in Hamilton, Bermuda.

DEAL STATS #
Overall 3 of 5
Sector (Energy Services and Equipment) 3 of 5
Type (Add-on Acquisition) 3 of 4
State (Texas) 3 of 5
Country (United States) 3 of 5
Year (2011) 1 of 1
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2002-08-07 Chiles Offshore

Houston, Texas, United States

Chiles Offshore, Inc., a builder and operator of oil drilling rigs.

Buy $578M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-02-20 Ensco - Marine Vessel Fleet

London, United Kingdom

Ensco plc - Marine Vessel Fleet includes five anchor handling towing-supply vessels, six modern large capacity 220-foot "stretched" platform supply vessels, 13 standard supply vessels and three utility vessels.

Sell $79M
Mergr

Product

Company

Legal