Expro Group Holdings N.V. (NYSE:XPRO) signed an agreement to acquire Coretrax Technology Ltd. from an investment group led by Buckthorn Partners LLP for approximately $190 million on February 12, 2024.Total consideration to be paid at closing is including at least $75 million of cash and up to 6.75 million newly issued Expro common shares. The cash component of the proposed transaction may be increased at Expro?s election, and the notional value of any equity consideration will be unitized based on Expro?s thirty trading day volume weighted average price (?VWAP?) prior to closing, which is expected to occur in the second quarter of 2024.The transaction is subject to customary closing conditions and working capital adjustments. Wells Fargo Securities, LLC is serving as financial advisor and CMS Cameron McKenna Nabarro Olswang LLP is acting as legal counsel to Expro Group Holdings N.V. (NYSE:XPRO) on the transaction.

Evercore Partners Limited is serving as financial advisor, Blackwood Partners LLP is acting as legal counsel to Coretrax. Sidley Austin LLP is acting as legal counsel to Buckthorn Partners on the transaction. Stuart Rogers of Alston & Bird, LLP acted as legal advisor to Wells Fargo Securities, LLC in the deal.