Offshore staff
READING, UK and HOUSTON – Expro Group and Frank’s International have entered a definitive agreement to combine in an all-stock transaction.
Upon the closing of the transaction, Expro shareholders will own approximately 65% of the combined entity, with Frank’s shareholders owning about 35%.
The combined company is expected to offer a balanced portfolio of services and solutions that meet customer needs across well construction, completions, production optimization and de-commissioning, in both onshore and offshore markets.
Upon closing of the transaction, Expro CEO Mike Jardon will become CEO of the combined company and will be a member of the board of directors. Mike Kearney, Frank’s chairman, president and CEO, will serve as chairman. Quinn Fanning will serve as CFO.
The combined company will be operationally headquartered in Houston, and will maintain an operating presence in Lafayette, Louisiana, Aberdeen, UK, and other key locations around the world. The principal executive office of the combined company will remain in the Netherlands.
The transaction is expected to close in the quarter ending Sept. 30, 2021, subject to approval by Frank’s and Expro shareholders and customary closing conditions, including required regulatory approvals. Upon closing, the combined company will assume the Expro Group name and retain the Frank’s brand name for its well construction solutions.
03/11/2021
