Forum Energy Technologies Acquires Multilift
July 05 2017 - 8:00AM
Business Wire
Forum Energy Technologies, Inc. (NYSE: FET) announced today that
it acquired the stock of Multilift from Pelican Energy Partners, a
Houston-based oilfield services focused private equity fund, and
management. Based in Houston, Texas, Multilift manufactures the
patented SandGuard™ and the Cyclone™ completion tools. These
innovative products extend the useful life of an electrical
submersible pump (ESP) by protecting it against falling sand and
other solids after shutdown.
Prady Iyyanki, Forum’s President and Chief Executive Officer,
commented, “The Multilift acquisition fits with our strategy of
increasing our product offering in the artificial lift value chain
to completions customers. We intend to leverage Forum’s
distribution system to rapidly grow Multilift’s sales with
additional customers and through geographic expansion. We welcome
the Multilift employees to Forum.”
Forum Energy Technologies is a global oilfield products
company, serving the drilling, subsea, completions, production and
infrastructure sectors of the oil and natural gas
industry. The Company's products include highly engineered
capital equipment as well as products that are consumed in the
drilling, well construction, production and transportation of oil
and natural gas. Forum is headquartered in Houston,
TX with manufacturing and distribution facilities
strategically located around the globe. For more information,
please visit www.f-e-t.com.
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version on businesswire.com: http://www.businesswire.com/news/home/20170705005316/en/
Forum Energy Technologies, Inc.Investor ContactMark Traylor,
281-368-1108Vice President, Investor
Relationsmark.traylor@f-e-t.comorMedia ContactDonna Smith,
281-949-2514Director, Marketing &
Communicationsdonna.smith@f-e-t.com
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