Hamworthy Plc / AW Flow Holdings LimitedAnnounced: 04/10/2011Target:AW Flow Holdings LimitedTotal Transaction Value (£m) £24mPurchaser:Hamworthy PlcStake Acquired (%): 100Implied Enterprise Value / Revenues:n.a.Implied Enterprise Value / EBITn.a.Implied Enterprise Value / EBITDAn.a.Hamworthy Plc, a British headquartered global engineeringcompany announced that it had acquired the Leedsbasedvalve manufacturer for the oil and gas sector. Theacquisition expanded Hamworthy’s position and scope inthe oil and gas market.Stork Technical <strong>Services</strong> Holdings BV / RBG LimitedAnnounced: 16/05/2011Target:RBG LimitedTotal Transaction Value (£m) £200mPurchaser:Stork Technical <strong>Services</strong> Holdings BVStake Acquired (%): 100Implied Enterprise Value / Revenues: 0.74xImplied Enterprise Value / EBIT 20.0xImplied Enterprise Value / EBITDA 12.7xLondon Acquisition Luxco Sarl, the holding company forStork BV and Stork Technical <strong>Services</strong> Holding BV, acquiredRBG Limited, an international multi-disciplined, integratedservice contractor in the oil, gas and petrochemicalindustry from 3i Ashley Group Limited. The acquisitionwas consistent with Stork’s strategy to enhance its serviceoffering while expanding its global footprint.Page 18
Company ProfilesAker Solutions ASARevenues £m:EBITDA £m:EBITDA Margin %:20113,942.0371.09.42010 20093,637.0 5,385.7362.3 442.49.98.2Aker Solutions provides oilfield products, systems andservices for customers in the oil and gas industry worldwide.The company's knowledge and technologies spanfrom reservoir to production and through the life of a field.The company is present in more than 30 countries.Number of employees: 18,397Headquarters:Principle areas of business:NorwayDrilling Technologies; Engineering; Maintenance, Modifications & Operations; Mooring & Loading Systems; SubseaTechnologies & <strong>Services</strong>; Subsurface and Well <strong>Services</strong>; Surface Products; Wellsteam ProcessingSegmental revenue breakdown: Product Solutions (49%); Field Life Solutions (30%); Engineering Solutions (8%): Other (13%)Geographical revenue breakdown: Norway (44%); Asia (21%); Europe (13%): North America (10%); South America (4%); Australia (4%); Rest of the World (4%)Recent M&A activity: • Announced in May 2012 the acquisition of NPS Energy DMCC, a Dubai-based coil tubing company for £291m• Acquired Sandnessjoen Engineering AS, a Norway-based engineering company in Feb 2012Baker Hughes IncRevenues £m:EBITDA £m:EBITDA Margin %:Number of employees: 57,700Headquarters:Principle areas of business:201112,830.02,516.219.6United States2010 20099,316.91,621.117.46,067.3Reservoir Development <strong>Services</strong>; Integrated Operations; Drilling; Evaluation; Completions; Production; Pressure Pumping;Tubular <strong>Services</strong>; Process and Pipeline <strong>Services</strong>; Downstream Chemicals; Specialty Chemicals; TotalDepth Education <strong>Services</strong>Segmental revenue breakdown: Completion and Production (63%); Drilling & Evaluation (31%); Industrial <strong>Services</strong> and Other (6%)Geographical revenue breakdown: United States (46%); Europe/Africa/Russia (19%); Middle East/Asia Pacific (15%); Latin America (11%); Canada (9%)Recent M&A activity: • Acquired BJ <strong>Services</strong>, active in pressure pumping, stimulation and fracturing, in April 2010• Acquired Tanroc <strong>Equipment</strong> Limited, a processing cavity pumps manufacturer, in Aug 2010915.915.1Baker Hughes is a supplier of oilfield services, products,technology and systems to the worldwide oil and natural gasindustry. It also provides industrial and other products andservices to the downstream refining and the process andpipeline industries. It operates in more than 80 countriesworldwide.Bilfinger Berger SERevenues £m:EBITDA £m:20116,877.7432.02010 20096,812.2 6,641.7417.0 257.3Bilfinger Berger is an international engineering and servicescompany. The group’s activities consist of the Industrial<strong>Services</strong>, Power <strong>Services</strong>, Building and Facility <strong>Services</strong>,Construction and Concessions business segments.EBITDA Margin %:6.36.13.9Number of employees: 59,210Headquarters:Principle areas of business:GermanyIndustrial <strong>Services</strong>; Building & Facility <strong>Services</strong>; Construction <strong>Services</strong>; Power <strong>Services</strong>; ConcessionsSegmental revenue breakdown: Industrial <strong>Services</strong> (40%); Building & Facility (27%); Construction (17%); Power <strong>Services</strong> (14%); Concessions (2%);Consolidation (1%)Geographical revenue breakdown: Europe (41%); Germany (40%); Americas (8%); Africa (7%); Asia (5%)Recent M&A activity: • Acquired Westcon Inc., a US-based assembly and service specialist in July 2012• Acquired Envi Con, a Germany-based design and management company for large coal and gas-fired power plant projects, inJune 2012• Acquired Tebodin BV, a Dutch-based consulting and engineering services company, in Feb 2012• Acquired personnel, selected holdings and customer contracts from Are Oy Industrial Service in Finland, a unit whichspecialises in electrical and automation technology, in Dec 2011• Acquired Neo Structo, an India-based industrial services provider, in Nov 2011Cameron International CorporationRevenues £m:EBITDA £m:EBITDA Margin %:Number of employees: 22,500Headquarters:Principle areas of business:20114,501.0609.013.5United States2010 20093,968.6Flow Control; Drilling Systems; Subsea Systems; Surface Systems; Process Systems; Reciprocating Compression; CentrifugalCompression; Valves; Actuation; Gears; Measurement; CAMSERV Aftermarket <strong>Services</strong>; PVM Project Valve ManagementSegmental revenue breakdown: DPS Segment (58%); V&M Segment (24%); PCS Segment (18%)Geographical revenue breakdown: United States (56%); United Kingdom (11%); Other Foreign (34%)652.716.43,279.2559.817.1Cameron is a leading provider of flow equipment products,systems and services to worldwide oil, gas and processindustries. Leveraging its global manufacturing, engineeringand sales and service network, Cameron works with drillingcontractors, oil & gas producers, pipeline operators, refinersand other process owners to control, direct, adjust, process,measure and compress pressures and flows.Recent M&A activity: • Acquired TTS Group ASA’s drilling equipment business based in Norway in June 2012 for £176m• Acquired LeTourneau Technologies Drilling Systems Inc., a Texas-based oil and gas drilling equipment manufacturer, andthe Offshore Products division of LeTourneau Technologies Inc., a Texas-based oil and gas drilling and mining machinerymanufacturer, in Oct 2011 for £235mPage 19
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