Tube Manufacturer Vallourec Acquires Serimax For $180MM

Transaction Type
Sellers
Buyers
Announce Date
Post Date
Close Date
Estimated Price
$180.0MM
Description

Acquired international offshore welding S&S co.

Tube manufacturer Vallourec SA, Paris, (Euronext: VK) has closed its acquisition of France-based international welding company Serimax Holdings SAS from shareholders Lime Rock Partners and 4D Global Energy Development Capital Fund for €150 million (approximately US$180 million).

Serimax plans, designs, manages and provides fully integrated offshore welding solutions, with operations in the U.S., France, the U.K., Malaysia, Russia and Brazil.

The acquisition complements Vallourec's existing line-pipe operations, which represent approximately 10% of its total oil and gas sales.

Simmons & Co. International Ltd. was financial advisor to Serimax, which was formed in 2006 when Serimer DASA and Umax Ltd. merged.

Vallourec chairman Philippe Crouzet says, "Serimax' welding expertise is a strong fit with our strategy of providing premium tubular solutions for the oil and gas industry. Recognized for its experience in major international line pipe projects, Serimax has a reputation for quality, service and innovation. Its strong commitment to R&D enables the company to respond to specific customer needs and new challenges with full service welding solutions."