Cactus Completes Previously Announced Acquisition of FlexSteel
01 Março 2023 - 10:30AM
Business Wire
Cactus, Inc. (NYSE: WHD) and its affiliates (“Cactus” or the
“Company”) today announced the completion of the acquisition of
FlexSteel Holdings, Inc. and certain of its affiliates
(“FlexSteel”).
In connection with the acquisition, Cactus amended and restated
its existing credit facility to provide for a term loan of $125
million and $225 million in revolving commitments. Upon closing,
$30 million has been drawn on the revolving portion of the facility
in addition to funding the $125 million term loan.
Scott Bender, President and CEO of Cactus, commented, “We
believe the acquisition of FlexSteel offers a unique opportunity
for Cactus and enhances our position as a premier manufacturer of
spoolable pipe technologies delivered directly to our industry’s
end-users. We are excited about the ability to add these
specialized products, technologies and associates to the Cactus
family.”
About Cactus, Inc.
Cactus designs, manufactures, sells and rents a range of highly
engineered wellhead, pressure control and spoolable pipe
technologies. Its products are sold and rented principally for
onshore unconventional oil and gas wells and are utilized during
the drilling, completion and production phases of its customers’
wells. In addition, it provides field services for its products and
rental items to assist with the installation, maintenance and
handling of the equipment. Cactus operates service centers
throughout North America and Australia, while also providing
equipment and services in select international markets.
Cautionary Statement Concerning Forward-Looking
Statements
Certain statements contained in this press release constitute
“forward-looking statements” within the meaning of the Private
Securities Litigation Reform Act of 1995. These forward-looking
statements are subject to risks, uncertainties and other factors,
many of which are outside of Cactus’ control, that could cause
actual results to differ materially from the results discussed in
the forward-looking statements.
Forward-looking statements can be identified by the use of
forward-looking terminology including “may,” “believe,” “expect,”
“intend,” “anticipate,” “estimate,” “continue,” “potential,”
“will,” “hope” or other similar words and include the Company’s
expectation of future performance contained herein. These
statements discuss future expectations, may contain projections of
results of operations or of financial condition, or state other
“forward-looking” information. You are cautioned not to place undue
reliance on any forward-looking statements, which can be affected
by assumptions used or by risks or uncertainties, including
unanticipated challenges relating to the FlexSteel transaction
following the completion of the acquisition. Consequently, no
forward-looking statements can be guaranteed. When considering
these forward-looking statements, you should keep in mind the risk
factors and other factors noted in the Company’s Annual Report on
Form 10-K, any Quarterly Reports on Form 10-Q and the other
documents that the Company files with the Securities and Exchange
Commission. The risk factors and other factors noted therein could
cause actual results to differ materially from those contained in
any forward-looking statement. Any forward-looking statement speaks
only as of the date on which it is made, and, except as required by
law, Cactus does not undertake any obligation to update or revise
any forward-looking statement, whether as a result of new
information, future events or otherwise.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20230228006499/en/
Cactus, Inc. John Fitzgerald, 713-904-4655 Director of
Corporate Development and Investor Relations IR@CactusWHD.com
Cactus (NYSE:WHD)
Gráfico Histórico do Ativo
De Mar 2024 até Abr 2024
Cactus (NYSE:WHD)
Gráfico Histórico do Ativo
De Abr 2023 até Abr 2024