Rubicon Oilfield International acquires fellow oilfield tools manufacturer –
Oilfield products manufacturer Rubicon Oilfield International Holdings has acquired fellow supplier Logan International.
Houston-based Rubicon announced Monday that it has acquired all of Logan's outstanding common shares for $1.59 Canadian per share, or about $1.19. Logan International has its corporate bases in Calgary, Alberta and Houston.
Company officials said Rubicon will continue developing Logan's products, helped along by "a signficant capital commitment" from private equity firm Warburg Pincus.
Other recent Rubicon oilfield supplier acquisitions include Tercel Oilfield Products, Cauldron Oil Tools and WaalKing LTD.
Rubicon is active in 50 countries, building, selling and renting oilfield equipment.


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