Apergy to combine with ecolab’s upstream energy business

Press release - apergy to combine with ecolab’s upstream energy business in a tax-free transaction, creating a global leader in production-optimization solutions.apergy corp - deal for enterprise value of approximately $7.4 billion.apergy corp - combined business expected to generate pro forma revenue of approximately $3.5 billion.apergy corp - combined business expected to generate pro forma adjusted ebitda of about $615 million (before synergies) in 2019.apergy corp - expected annual run-rate cost synergies of $75 million within 24 months of closing deal.apergy corp - deal includes approximately $3.9 billion of stock to ecolab shareholders.apergy corp - existing apergy and ecolab shareholders to own 38% and 62% of combined entity, respectively.apergy corp - somasundaram, current apergy president & ceo, will serve as president and chief executive officer of combined company.apergy corp - jay nutt, current cfo of apergy, will serve as cfo of combined company.apergy corp - at completion of deal, co will issue about 127 million shares to existing ecolab shareholders, assume estimated net debt of about $492 million.apergy corp - size of apergy board will be increased and two new directors designated by ecolab will be appointed to board.apergy - championx is expected to be spun-off to ecolab's shareholders & simultaneously merged with a wholly-owned subsidiary of apergy.
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