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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