Arcline Investment Management, a U.S. private equity firm founded by former Golden Gate dealmaker Rajeev Amara, said July 18 it would buy a unit of Baker Hughes, the oilfield services subsidiary of General Electric Co.
Though terms of the deal were not disclosed, the agreement comes after Arcline said in March it had raised $1.5 billion for a fund targeted at buying small to midsize industrial businesses. The firm defined these as companies with less than $1 billion in revenue.
Arcline has agreed to acquire Baker Hughes’ reciprocating comprehension division, which makes and services industrial engines and compressors built into natural gas pipelines operated by oil and gas companies.
Arcline said it plans to “aggressively invest” in the unit’s "long-standing, loyal employee base so that they can support every brand of our equipment operating in the field.
Recovering more for less is the ultimate goal for operators and service companies.
A new high-performance spacer fluid delivers success in mud removal and thermal stability downhole.
A pilot project in a major shale play represents one of the first attempts to measure how multilateral wells could deliver cost efficiencies in unconventional fields.