Private firm One Equity Partners (OEP) completed the acquisition of TechnipFMC’s measurement solutions business, according to a March 27 press release.
Part of OEP’s “corporate carve-out strategy,” the business will be rebranded as Guidant and specialize in measurement technology, digital and automation solutions and global systems, the release said.
“[Guidant’s] creation came about through consistent collaboration between the management team, OEP’s team and a large group of dedicated outside advisors to complete a complex corporate carve-out, involving three separate business units spread across multiple countries,” said J.B. Cherry, partner at OEP.
Guidant’s CEO Laura Schilling said that there is increased demand for instrumentation and automation solutions due to new regulations, fuel diversification, green energy investment, evolving data security and increasing life of assets.
OEP said it completed 21 similar business unit divestitures across its latest four funds, including 11 which operate in industrial focused end-markets.
Recommended Reading
Triangle Energy, JV Set to Drill in North Perth Basin
2024-04-18 - The Booth-1 prospect is planned to be the first well in the joint venture’s —Triangle Energy, Strike Energy and New Zealand Oil and Gas — upcoming drilling campaign.
TotalEnergies Cements Oman Partnership with Marsa LNG Project
2024-04-22 - Marsa LNG is expected to start production by first quarter 2028 with TotalEnergies holding 80% interest in the project and Oman National Oil Co. holding 20%.
Is Double Eagle IV the Most Coveted PE-backed Permian E&P Left?
2024-04-22 - Double Eagle IV is quietly adding leases and drilling new oil wells in core parts of the Midland Basin. After a historic run of corporate consolidation, is it the most attractive private equity-backed E&P still standing in the Permian Basin?
TotalEnergies to Acquire Remaining 50% of SapuraOMV
2024-04-22 - TotalEnergies is acquiring the remaining 50% interest of upstream gas operator SapuraOMV, bringing the French company's tab to more than $1.4 billion.
EIG’s MidOcean Closes Purchase of 20% Stake in Peru LNG
2024-04-23 - MidOcean Energy’s deal for SK Earthon’s Peru LNG follows a March deal to purchase Tokyo Gas’ LNG interests in Australia.