Merger • Energy Services and Equipment

Valaris Acquires Rowan Companies

On April 11, 2019, Valaris acquired energy services and equipment company Rowan Companies

Acquisition Context

This is Valaris’ 5th transaction in the Energy Services and Equipment sector.
This is Valaris’ 5th transaction in the United States.
This is Valaris’ 5th transaction in Texas.

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M&A Deal Summary
Date	April 11, 2019
Target	Rowan Companies
Sector	Energy Services and Equipment
Buyer(s)	Valaris
Deal Type	Merger
Advisor(s)	Goldman Sachs (Financial) Kirkland & Ellis (Legal)

Target Company

Rowan Companies

Houston, Texas, United States

Rowan Companies Plc is a provider of international contract drilling services in the ultra-deepwater and shallow water jack-up market with a fleet of 34 offshore drilling units, including four ultra-deepwater drillships, one of which is currently under construction, and 30 jack-up rigs, 19 of which are rated high-specification. Rowan Companies was founded in 1923 and is based in Houston, Texas.

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Buyer Overview 1

Buyer

Valaris

Hamilton, Bermuda

Category	Company
Founded	1975
Sector	Energy Services and Equipment
Employees	4,130
Revenue	2.4B USD (2024)

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 Context for Buyer	#
Overall	5 of 5
Sector: Energy Services and Equipment	5 of 5
Type: Merger	1 of 1
State: Texas	5 of 5
Country: United States	5 of 5
Year: 2019	1 of 1

PREVIOUS DEAL

DATE	TARGET	DEAL TYPE	VALUE
2017-05-30	Atwood Oceanics Houston, Texas, United States Atwood Oceanics, Inc. is an offshore drilling company engaged in the drilling and completion of exploration and development wells for the global oil and gas industry. Atwood Oceanics was established in 1968 and is based in Houston, Texas.	Buy	-

DATE

TARGET

DEAL TYPE

VALUE

2017-05-30

Atwood Oceanics

Houston, Texas, United States

Atwood Oceanics, Inc. is an offshore drilling company engaged in the drilling and completion of exploration and development wells for the global oil and gas industry. Atwood Oceanics was established in 1968 and is based in Houston, Texas.

Buy

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