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Expro Unites with PRT Offshore in a Landmark $106 Million Deal
10/17/2023
- Expro finalizes the acquisition of PRT Offshore, strengthening its presence in subsea well access.
- The move is set to promote PRT Offshore equipment in Europe, Sub-Saharan Africa, and Asia Pacific.
- The $106 million deal integrates deepwater offshore expertise from both entities.
Expro recently announced its acquisition of PRT Offshore. This deal enhances Expro's technological capabilities in subsea well access, especially in North and Latin America. Additionally, it promotes the expansion of PRT Offshore's equipment in Europe, Sub-Saharan Africa, and the Asia Pacific.
Michael Jardon, Expro's CEO, sees this collaboration offering considerable growth for PRT Offshore. He highlighted the combined potential to deliver better integrated offshore solutions. The entire deal, which includes Expro shares, stands at an approximate value of $106 million. RBC Capital Markets acted as the financial adviser for Expro in this transaction.
About Expro
Expro, with a legacy dating back to 1938, serves clients across the entire well life cycle, boasting a workforce of about 7,600 employees worldwide. Expro offers solutions and products to the global energy industry. The company's expansion strategy focuses on enhancing its technological footprint and offering integrated solutions, which is evident from its recent acquisition of PRT Offshore.
About PRT Offshore
PRT Offshore is a prominent offshore services provider, specializing in well completion and intervention. With its strong positioning in North and Latin America, the company's collaboration with Expro is anticipated to redefine offshore operations in multiple international markets.
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