Private firm One Equity Partners (OEP) completed the acquisition of TechnipFMC’s measurement solutions business, according to a March 27 press release.
Part of OEP’s “corporate carve-out strategy,” the business will be rebranded as Guidant and specialize in measurement technology, digital and automation solutions and global systems, the release said.
“[Guidant’s] creation came about through consistent collaboration between the management team, OEP’s team and a large group of dedicated outside advisors to complete a complex corporate carve-out, involving three separate business units spread across multiple countries,” said J.B. Cherry, partner at OEP.
Guidant’s CEO Laura Schilling said that there is increased demand for instrumentation and automation solutions due to new regulations, fuel diversification, green energy investment, evolving data security and increasing life of assets.
OEP said it completed 21 similar business unit divestitures across its latest four funds, including 11 which operate in industrial focused end-markets.
Recommended Reading
Crescent Energy: Bigger Uinta Frac Now Making 60% More Boe
2024-05-10 - Crescent Energy also reported companywide growth in D&C speeds, while well costs have declined 10%.
Halliburton’s Low-key M&A Strategy Remains Unchanged
2024-04-23 - Halliburton CEO Jeff Miller says expected organic growth generates more shareholder value than following consolidation trends, such as chief rival SLB’s plans to buy ChampionX.
E&P Highlights: Feb. 26, 2024
2024-02-26 - Here’s a roundup of the latest E&P headlines, including interest in some projects changing hands and new contract awards.
SLB, OneSubsea, Subsea 7 Sign Collaboration Deal with Equinor
2024-05-02 - Work is expected to begin immediately on Equinor’s Wisting and Bay Du Nord projects.
Iraq to Seek Bids for Oil, Gas Contracts April 27
2024-04-18 - Iraq will auction 30 new oil and gas projects in two licensing rounds distributed across the country.