Forum energy technologies announces transformative acquisition of variperm energy services

Houston--(business wire)--forum energy technologies, inc. (nyse: fet) (“fet”) today announced that it has entered into a definitive agreement to acquire variperm energy services (“variperm”) for consideration of $150 million of cash and 2 million shares of fet's common stock, reflecting a valuation of approximately 3.7x variperm's trailing twelve months ebitda as of september 30, 2023. the transaction is expected to close in january 2024 and is subject to customary closing conditions and canadi.
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