The acquisition will expand Expro’s technology portfolio within the subsea well access sector in North and Latin America. (Source: Shutterstock)
Expro completed its acquisition of offshore services provider PRT Offshore, Expro announced in a press release on Oct. 3 .
The acquisition will expand Expro’s technology portfolio within the subsea well access sector in North and Latin America and push development of PRT Offshore surface equipment in Europe, Sub-Saharan Africa and Asia Pacific regions.
“We believe this will offer significant growth opportunities for PRT Offshore in these attractive markets,” Michael Jardon, Expro CEO, said in a release. “Simultaneously, Expro plans to leverage PRT Offshore’s strong position in deepwater offshore well completion and intervention across the [North America and Latin America] region to provide integrated solutions to our customers.”
Total consideration to be paid is approximately $106 million, including Expro’s shares. RBC Capital Markets served as financial adviser to Expro.
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