Downhole products supplier Rubicon Oilfield International said Oct. 24 that it completed the acquisition of the outstanding common shares of oilfield production tool supplier Logan International Inc.
Each share was priced at CA$1.59, the company said.
Rubicon was backed by private-equity firm Warburg Pincus on the transaction, which will support the growth of all Logan product lines.
Logan employees will leverage Rubicon's existing worldwide platform for delivering well product solutions to customers.
Dave MacNeill, CEO of Logan, said the merger will provide opportunities for Logan employees and products.
Rubicon Oilfield International Holdings LP is based in Houston.
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