M&A · Energy · Oil & Gas Field Services, NEC
Expro Ltd to acquire Frank's International N.V.
Announced Mar 11, 2021 · Closed Oct 1, 2021
Deal value—
Premium—To unaffected price
EV / Adj. EBITDA—
ConsiderationAll stock
Transaction
- Acquirer
- Expro Ltd (XPRO)
- Target
- Frank's International N.V. (FI)
- Buyer type
- Strategic
- Offer price per share
- —
- Enterprise value
- —
- Status
- Closed Oct 1, 2021
Deal protections
- Break fee (target pays)
- $37.5M
- Reverse fee (buyer pays)
- $71.5M
- Go-shop
- —
- Financing
- —
Advisors
- To the acquirer
- JPMorgan
- To the target
- Moelis
Sector context · Energy
- Comparable deals
- 8 in the prior 24 months
- Premium
- Sector median 41.5%
- EV / Adj. EBITDA
- Sector median 12.2x
- Break fee
- Sector median 2.6%
Timeline
- AnnouncedMar 11, 2021
- S-4 filedApr 26, 2021
- ClosedOct 1, 2021