Expro Acquires Coretrax from Buckthorn Partners
February 12, 2024
Expro (NYSE: XPRO) has entered into a definitive agreement to acquire Coretrax, an Aberdeen-based provider of performance drilling tools and wellbore cleanup, well integrity and production optimization solutions, from an investment group led by Buckthorn Partners. Total consideration is approximately $210 million (including at least $75 million cash and up to 6.75 million newly issued Expro shares); the deal is expected to close in Q2 2024 and will expand Expro's well construction and well intervention & integrity capabilities and geographic footprint.
- Buyers
- Expro
- Targets
- Coretrax
- Sellers
- Buckthorn Partners, Investment group led by Buckthorn Partners
- Industry
- Energy
- Location
- Scotland, United Kingdom
- Transaction Type
- Buyout
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