KIRBY CORP acquired United Holdings LLC for $270 million base + up to $50 million earnout, a transaction completed in April 2011, structured as all cash (base $270M plus three-year earnout up to $50M).
United Holdings LLC operates in Distribution and services, is based in Oklahoma City, Oklahoma; 21 locations across 13 states, USA. United Holdings LLC, a distributor and service provider of engine and transmission related products for the oil and gas services, power generation and transportation industries, and a manufacturer of oilfield service equipment including hydraulic fracturing equipment. Headquartered in Oklahoma City with 21 locations across 13 states; distributes/services Allison Transmission, MTU Detroit Diesel, Daimler Trucks NA and other engines.
The recovery of shale gas is an energy 'game changer' for the United States energy business because of the estimated amount of gas reserves and the relatively inexpensive cost of gas.
Established Kirby in land-based diesel engine services and oilfield pressure-pumping equipment amid the shale-gas boom. Complemented Kirby's existing marine diesel engine services business and added a manufacturing capability. Kirby diesel engine services / distribution and services segment
The recovery of shale gas is an energy 'game changer' for the United States energy business because of the estimated amount of gas reserves and the relatively inexpensive cost of gas. A critical component of recovering shale gas is the ability to hydraulically fracture the gas-bearing formations.Joe Pyne, CEO, Kirby Corporation
Advisory firms were not disclosed for this transaction.