OEP Capital Advisors, L.P. completed the acquisition of Measurement Solutions business from TechnipFMC plc.
March 26, 2024
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OEP Capital Advisors, L.P. signed an agreement to acquire Measurement Solutions business from TechnipFMC plc (NYSE:FTI) for approximately $210 million on November 20, 2023. The purchase price is subject to customary adjustments at the closing of the transaction. Upon completion of the transaction, the Business will represent the addition of another corporate carve-out transaction to One Equity?s portfolio. Transaction is subject to customary closing conditions and is expected to close in the first half of 2024. As of February 22, 2024, the transaction is expected to complete by end of first quarter 2024.
Christopher Drewry, Thomas Verity, Jeff Tochner, Edward Barnett, Anna Ngo, Nicholas DeNovio, Matthew Jones, Roberto Reyes Gaskin, Jason Cruise, Tomas Nilsson, Jana Dammann de Chapto, Erin Brown Jones, Ben Rosemergy, Rifka Singer, Leah Segall, Josh Marnitz, Julia Thompson, Drew Levin, Robert Brown, Santiago Bejarano and John Pierce of Latham & Watkins LLP and Latham & Watkins (London) LLP acted as legal advisor and JPMorgan Chase & Co. acted as financial advisor to TechnipFMC plc. Derek M. Winokur, Paul Bennett, Evelyn Liristis, Andrej Wolf, Markus Muhs, Merih O. Altay, Matthew H. Ahrens, Nicholas A. Smith, John C. Garces, Adam Di Vincenzo, Ajal Notowicz, Daniel J. Rosenthal, Manan Shah, Antonio L. Diaz-Albertini, Jane L. Hanson, Erwin Dweck, Edward Lemanowicz, Russell Jacobs, Matthias Schell, Bijan Ganji, Lafayette M. Greenfield II, John M. Beahn and Dana Zelman of Milbank LLP acted as legal adviser to OEP Capital.
OEP Capital Advisors, L.P. completed the acquisition of Measurement Solutions business from TechnipFMC plc (NYSE:FTI) on March 27, 2024. On completion, the Business is being rebranded as Guidant, a provider of fiscal measurement technologies, facility asset management and automation solutions, and integrated measurement systems deployed across the energy value chain. The Business represents the addition of another corporate carve-out transaction to OEP?s portfolio.
TechnipFMC plc is a United Kingdom-based technology company, which operates in the energy industry. The Company is focused on delivering fully integrated projects, products, and services. The Company operates through two segments: Subsea and Surface Technologies. The Subsea segment manufactures and designs products and systems, performs engineering, procurement and project management and provides services used by oil and gas companies involved in offshore exploration and production of crude oil and natural gas. The Surface Technologies segment designs, manufactures and supplies technologically advanced wellhead systems and high-pressure valves and pumps used in stimulation activities for oilfield service companies and provides installation, flowback and other services for exploration and production companies. The Company operates across various countries, including the United States; Brazil; Norway; the United Kingdom; Guyana, and all other countries.