Weir completes Seaboard acquisition
The Weir Group, a FTSE 100 listed industrial engineer, has completed the acquisition of the wellhead solutions provider Seaboard Holdings for $675m.
The Weir Group, a FTSE 100 listed industrial engineer, has completed the acquisition of the wellhead solutions provider Seaboard Holdings for $675m.
The transaction was paid in cash and funded from new and existing bank facilities.
For the year to 31 December 2011, Seaboard is forecast to achieve proforma revenues of $216m and earnings before interest, tax, depreciation and amortisation of $58m. Its headquarters are located in Houston, Texas but the firm has over 20 locations covering the major oil & gas basins in North America. Seaboard employs approximately 400 people.
MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Weir has previously said that it believes that "Seaboard's range of high-end surface equipment is directly adjacent to Weir's market leading portfolio of frac pumps and other well completion equipment."
NR/BS
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
-
What is the 25x retirement rule and does it work?
The 25x retirement rule has been around for decades but many experts question if it is a suitable strategy
-
When is the self-assessment tax return deadline?
If you are self-employed, rent out a property or earn income from savings or investments, you may need to complete a self-assessment tax return. We run through the deadlines you need to know about