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Enerflex Ltd. Completes Acquisition Of Exterran Corporation, Establishing A Premier Integrated Global Provider Of Energy Infrastructure And Energy Transition Solutions

Oct 13, 2022•almost 3 years ago

Acquiring Company

Enerflex

Acquired Company

Exterran

Natural ResourcesEnergyManufacturing

Description

Enerflex Ltd. (TSX: EFX) (NYSE: EFXT) ("Enerflex" or the "Company"), a leading supplier of vertically integrated products and services to the global energy industry, is pleased to announce today that it has completed its acquisition of Exterran Corporation ("Exterran"), a leader in natural gas processing and treatment and compression products and services (the "Transaction"). Enerflex's common shares will continue to trade on the Toronto Stock Exchange ("TSX") under the symbol "EFX", and the Company will commence trading on the New York Stock Exchange ("NYSE") under the symbol "EFXT" on October 13, 2022.

Company Information

Company

Enerflex

About

Enerflex is a single-source supplier of natural gas compression, oil and gas processing, refrigeration systems, energy transition solutions, and electric power generation equipment – plus related in-house engineering and mechanical services expertise. The Company’s broad in-house resources provide the capability to engineer, design, manufacture, construct, commission, service, and operate hydrocarbon handling systems. Enerflex’s expertise encompasses field production facilities, compression and natural gas processing plants, gas lift compression, refrigeration systems, energy transition solutions, and electric power solutions serving the natural gas production industry. Headquartered in Calgary, Canada, Enerflex has approximately 2,000 employees worldwide. Enerflex, its subsidiaries, interests in associates, and joint operations operate in Canada, the United States of America (“USA”), Argentina, Bolivia, Brazil, Colombia, Mexico, the United Kingdom, Bahrain, Kuwait, Oman, the United Arab Emirates, Australia, New Zealand, Indonesia, Malaysia, and Thailand. Enerflex operates three business segments: USA, Rest of World, and Canada. Enerflex’s shares trade on the Toronto Stock Exchange under the symbol “EFX”. For more information about Enerflex, go to www.enerflex.com.

M&A Insights

Based on deal data
Integration timeline
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Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed