Womble Bond Dickinson client Expro, a leading provider of energy services, has acquired PRT Offshore, an offshore services company.
The transaction is valued at approximately $106 million in cash and stock. According to a press release, the acquisition will enable Houston-based Expro to “expand its portfolio of cost-effective, technology-enabled services and solutions within the subsea well access sector in the North and Latin America (NLA) region and accelerate the growth of PRT Offshore’s surface equipment offering in the Europe and Sub-Saharan Africa (ESSA) and Asia Pacific (APAC) regions.” PRT Offshore employs approximately 90 people in Texas and Louisiana.
RBC Capital Markets served as exclusive financial advisor to Expro in this transaction.
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Womble Bond Dickinson has been immersed in the energy industry sector for decades, giving us great depth of experience across the various forms of energy and power. We apply that experience to identify the best route through the complex issues that affect companies operating in this sector. Our work covers the full spectrum of upstream, midstream and downstream oil and gas, renewables (solar, wind, biofuels, and hydrogen), electricity generation and transmission, electric vehicles, and water infrastructure.