Acquisition of the Production Testers International business (“PTI”)
2 September 2010
Expro announces today that it has completed the acquisition of the Production Testers
International business (“PTI”) from Production Testers International HK Ltd and Production
Testers International Ltd. As previously announced, the headline consideration for the
acquisition is up to $120m in cash, including a one year earn‐out of up to $30m.
PTI is a leading well services business providing fast track production systems to the
upstream oil and gas industry. PTI primarily designs, installs, commissions and operates
production facilities and production optimisation systems for use in oilfield developments.
The acquisition will significantly expand Expro’s product and service capability and
represents an excellent opportunity for the group to accelerate its growth and enhance its
market position.
Acquisition of the Production Testers International business (“PTI”)
2 September 2010
Expro announces today that it has completed the acquisition of the Production Testers
International business (“PTI”) from Production Testers International HK Ltd and Production
Testers International Ltd. As previously announced, the headline consideration for the
acquisition is up to $120m in cash, including a one year earn‐out of up to $30m.
PTI is a leading well services business providing fast track production systems to the
upstream oil and gas industry. PTI primarily designs, installs, commissions and operates
production facilities and production optimisation systems for use in oilfield developments.
The acquisition will significantly expand Expro’s product and service capability and
represents an excellent opportunity for the group to accelerate its growth and enhance its
market position.