ChampionX Agrees to Acquire RMSpumptools for $110M, Expanding Reach in International, Offshore Production Technologies Markets
Portfolio Pulse from Benzinga Newsdesk
ChampionX Corporation (NASDAQ:CHX) announced its plan to acquire RMSpumptools Limited for approximately $110 million, aiming to expand its reach in international and offshore production technologies markets. This acquisition is expected to enhance ChampionX's Production and Automation Technologies portfolio and strengthen its presence in the Middle East, Latin America, and global offshore markets. RMSpumptools is anticipated to achieve around $65 million in revenues and $18 million in adjusted EBITDA by 2024.
March 22, 2024 | 9:01 am
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ChampionX's acquisition of RMSpumptools for $110M is set to expand its international and offshore market presence, enhancing its Production and Automation Technologies portfolio.
The acquisition of RMSpumptools is directly related to ChampionX's strategic expansion in the international and offshore production technologies markets. This move is likely to be viewed positively by investors as it aims to enhance the company's product portfolio and market presence, which could lead to increased revenues and profitability. The anticipated $65 million in revenues and $18 million in adjusted EBITDA by 2024 from RMSpumptools further supports the potential positive impact on ChampionX's financial performance.
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