Recent M&A activity in the oilfield equipment and services sector

Target Target business Purchaser Deal value (€m) EBITDA multiple
Ulterra Drilling Technologies LP Manufacturer of technology-focused PDC drill bits and downhole tools American Securities Undisclosed n/a
Managed Pressure Operations LLC Supplier of Managed Pressure Drilling (MPD) equipment AFGlobal Corp Undisclosed n/a
AmSpec Services LLC Provider of testing, inspection, and certification (TIC) services Olympus Growth Fund Undisclosed n/a
Steadfast Engineering Co Ltd Supplier of studbolts and fasteners Marla Tube Fittings Ltd Undisclosed n/a
Professional Rental Tools LLC Provider of support equipment for deepwater applications Ironwood Capital and LongueVue Capital Undisclosed n/a
Omron Oilfield and Marine Inc Inverter control systems for drilling equipment used by the drilling sector Schlumberger Ltd Undisclosed n/a
Trican Well Service Ltd (completions tool business) Designer of downhole tools for multi-stage fracturing and multi-zone completions National Oilwell Varco Inc Undisclosed n/a
Silverwing (UK) Ltd Non-destructive testing equipment for storage tanks, vessels and pipeline inspection Eddyfi NDT Inc Undisclosed n/a
Meci SA Provider of custody transfer metering systems Clemessy SA Undisclosed n/a
Technip SA Project management, engineering and construction for the energy industry FMC Technologies Inc Undisclosed n/a
Prezioso-Technilor SA (90% stake) Provider of technical and engineering services Altrad SA 442 10.1x
Tercel Oilfield Products Ltd Diversified oilfield products company Rubicon Oilfield International Holdings LLC Undisclosed n/a
HydraWell Intervention AS (60% stake) Specialist in well integrity services Norvestor Equity Undisclosed n/a
Allied Oil & Gas Services LLC Provider of cementing and acidizing services CSL Capital Undisclosed n/a
Mastergear Worldwide Co Producer of manual and motorised valve gearboxes Rotork plc 20 6.9x
Xtreme Drilling & Coil Services Corp (coiled tubing services) Coiled tubing assets of provider of contract drilling services and tools Schlumberger Ltd 129 n/a
Summit Casing Equipment LLC Provider of centralisers and float equipment Renovo Capital Undisclosed n/a
Wellstaff SA Provider of technical assistance to the energy sector SeaOwl Group SA Undisclosed n/a
Ashtead Technology Ltd Provider of subsea technology and services Arab Petroleum Investments and Buckthorn Partners Undisclosed n/a
SVT Engineering Consultants Pty Ltd Provider of vibration, dynamics and noise solutions John Wood Group plc Undisclosed n/a
Downhole Technology LLC (68% stake) Provider of composite frac plugs for completion of oil and gas wells Schoeller-Bleckmann Oilfield Equipment AG 84 n/a
Meta Downhole Ltd Provider of seismic services for exploration, reservoir evaluation and well construction Schlumberger Ltd Undisclosed n/a
Globe Energy Services LLC Specialist in new well completions and production and maintenance of existing well bores Clearlake Capital Undisclosed n/a
FlowChem Technologies LLC Provider of speciality oilfield chemicals Dorf Ketal Chemicals India Pvt Ltd Undisclosed n/a