M&A Deal Summary

Varco International Acquires Chimo Equipment

On March 21, 2001, Varco International acquired energy services and equipment company Chimo Equipment from Peak Energy Services for 18M USD

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

M&A Deal Summary

Date 2001-03-21
Target Chimo Equipment
Sector Energy Services and Equipment
Buyer(s) Varco International
Sellers(s) Peak Energy Services
Deal Type Divestiture
Deal Value 18M USD

Target

Chimo Equipment

Calgary, Alberta, Canada
Chimo Equipment Ltd. is a provider of drilling rig instrumentation equipment and services to the Canadian drilling market.

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Buyer(S) 1

Buyer

Varco International

Houston,, Texas, United States

Category Company
Sector Energy Services and Equipment
DESCRIPTION

Varco International, Inc. provides drilling and well-servicing equipments, products, and services to the oil and gas industry worldwide.


DEAL STATS #
Overall 1 of 1
Sector (Energy Services and Equipment) 1 of 1
Type (Divestiture) 1 of 1
State (Alberta) 1 of 1
Country (Canada) 1 of 1
Year (2001) 1 of 1
Size (of disclosed) 1 of 1

Seller(S) 1

SELLER

Peak Energy Services

Calgary, Alberta, Canada

website


Category Company
Founded 1996
Sector Energy Services and Equipment
DESCRIPTION

Peak Energy Services Ltd., is a diversified energy services organization providing oil field equipment and related services to the energy industry.


DEAL STATS #
Overall 1 of 1
Sector (Energy Services and Equipment) 1 of 1
Type (Divestiture) 1 of 1
State (Alberta) 1 of 1
Country (Canada) 1 of 1
Year (2001) 1 of 1
Size (of disclosed) 1 of 1