One-Page Deal Sheet
Pelican Sells Downhole Technology LLC to Schoeller Bleckmann
Schoeller-Bleckmann Pelican Energy Partners
Announced Date
April 01,2016
Close Date
April 01,2016
Transaction Type
Asset
Location
Region
International
Country
Austria
Country
United States
Transaction Details: Require Private Equity Subscription
Pelican Energy Partners is pleased to announce the sale of Downhole Technology LLC to Austrian service company Schoeller Bleckmann Oilfield Equipment on April 1st in a transaction representing an enterprise value of $152 million.
Pelican sold all of its equity holdings in the company, however the management team retained the majority of its equity and will continue with the business as partners with Schoeller Bleckmann. Downhole will immediately begin operations within the Schoeller Bleckmann family of energy service companies.
At year-end 2015, Downhole Technology LLC (formerly& National…
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