In April, SLB entered into an agreement to buy ChampionX in an all-stock transaction that values the company at roughly $7.74 billion. (Source: Shutterstock)
ChampionX has closed its acquisition of RMSpumptools Ltd., a designer and manufacturer of mechanical and electrical solutions for complex artificial lift applications, from U.K.-based James Fisher and Sons Plc., ChampionX said on July 9.
The March deal was valued at £86 million (US$110 million).
In April, SLB entered into an agreement to buy ChampionX in an all-stock transaction that values the company at roughly $7.74 billion. The deal is currently undergoing a second round of scrutiny by the Department of Justice, SLB said on July 3.
Adding RMSpumptools technology to ChampionX’s production and automation technologies’ portfolio (PAT) will allow the company to deliver greater value to customers and create growth opportunities in international markets such as the Middle East, Latin America and global offshore projects, said Sivasankaran "Soma" Somasundaram, company president and CEO.
“RMSpumptools’ comprehensive range of products and services complement and integrate seamlessly with the PAT business segment and our strong presence in North America provides opportunities to grow RMSpumptools’ footprint in this important market,” Somasundaram said. “ChampionX intends to operate RMSpumptools as a standalone business unit within the PAT business segment and is committed to continuing the high level of customer service that all of RMSpumptools’ customers have come to expect.”
RMSpumptools is a leader in electrical penetrator and connector systems, mechanical completion systems and intervention tools, subsea connector systems, and electric submersible pumps monitoring, ChampionX said. RMSpumptools designs, manufactures and delivers its solutions from the U.K., Saudi Arabia and the United Arab Emirates.
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