Cactus (HighRidge Resources) to Acquire FlexSteel Technologies Holdings
January 3, 2023
Cactus entered into a definitive agreement to acquire FlexSteel Technologies Holdings and its affiliates via a merger with Cactus’ newly formed holding company HighRidge Resources and Atlas Merger Sub, LLC. The deal is structured as a cash-free, debt-free purchase for approximately $621 million upfront (subject to adjustments), with a potential earn-out of up to $75 million tied to revenue growth targets.
- Buyers
- Cactus, HighRidge Resources, Atlas Merger Sub, LLC
- Targets
- FlexSteel Technologies Holdings, FlexSteel Technologies Holdings and its affiliates
- Platforms
- Cactus
- Industry
- Oil & Gas
- Transaction Type
- Buyout
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