Forum Energy Technologies Completes Acquisition of Variperm Energy Services
Forum Energy Technologies, Inc. (NYSE:FET) today announced it has completed the acquisition of Variperm Energy Services ("Variperm"), a leading manufacturer of customized downhole technology solutions, providing sand and flow control products for heavy oil applications. Total consideration for the acquisition consisted of $150 million of cash and 2 million shares of FET's common stock, subject to customary purchase price adjustments.
"This accretive acquisition enhances FET's downhole and artificial lift product portfolio by adding a leading manufacturer of customized downhole technology solutions in sand and flow control for heavy oil applications. We expect the combined global footprint
