M&A · Energy · Oil & Gas Field Exploration Services
Wilks Brothers, LLC to acquire Dawson Geophysical Co
Announced Oct 25, 2021 · Closed Jan 18, 2022
Deal value$55MEV $15M
Premium4.9%To unaffected price
EV / Adj. EBITDA—0.5x EV / Revenue
ConsiderationAll cash$2.34 per share
Transaction
- Acquirer
- Wilks Brothers, LLC
- Target
- Dawson Geophysical Co (DWSN)
- Buyer type
- Strategic
- Offer price per share
- $2.34
- Enterprise value
- $15M
- Status
- Closed Jan 18, 2022
Deal protections
- Break fee (target pays)
- $1.7M · 3.0%
- Reverse fee (buyer pays)
- —
- Go-shop
- No-shop
- Financing
- No financing condition
Advisors
- To the acquirer
- Not disclosed
- To the target
- Moelis
Sector context · Energy
- Comparable deals
- 19 in the prior 24 months
- Premium
- 4.9% vs. 39.4% sector median
- EV / Adj. EBITDA
- Sector median 13.6x
- Break fee
- 3.0% vs. 2.5% sector median
Timeline
- AnnouncedOct 25, 2021
- Tender offerNov 1, 2021
- ClosedJan 18, 2022