M&A · Energy · Oil & Gas Field Services, NEC
Weatherford International plc to acquire NCS Multistage Holdings, Inc.
Announced Jun 1, 2026 · Closed Sep 1, 2026
Deal value$151MEV $123M
Premium—To unaffected price
EV / Adj. EBITDA6.4x0.7x EV / Revenue
ConsiderationCash and stock$57.39 per share
Transaction
- Acquirer
- Weatherford International plc (WFRD)
- Target
- NCS Multistage Holdings, Inc. (NCSM)
- Buyer type
- Strategic
- Offer price per share
- $57.39
- Enterprise value
- $123M
- Status
- Closed Sep 1, 2026
Deal protections
- Break fee (target pays)
- $5.5M · 3.7%
- Reverse fee (buyer pays)
- $9.7M · 6.4%
- Go-shop
- No-shop
- Financing
- No financing condition
Advisors
- To the acquirer
- Not disclosed
- To the target
- Piper Sandler
Sector context · Energy
- Comparable deals
- 30 in the prior 24 months
- Premium
- Sector median 35.5%
- EV / Adj. EBITDA
- 6.4x vs. 9.6x sector median
- Break fee
- 3.7% vs. 3.0% sector median
Timeline
- AnnouncedJun 1, 2026
- Proxy filedJul 22, 2026
- Definitive proxyJul 22, 2026
- Shareholder vote—
- ClosedSep 1, 2026
Valuation · fairness opinions
Discounted cash flow$61.56$77.70
Offer $57.39
Implied value per NCS Multistage Holdings, Inc. share by analysis, from Piper Sandler · DCF discount rate 11%–15%.