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Oil States (OIS) to Acquire Piper Valve Systems

July 2, 2012 4:17 PM EDT Send to a Friend
Oil States International, Inc. (NYSE: OIS) announced today that its subsidiary, Oil States Industries, Inc., has entered into a definitive asset purchase agreement to acquire Piper Valve Systems, Ltd.

For the twelve months ended December 31, 2012, Piper is expected to generate approximately $34.0 million of revenues. Subject to customary post-closing adjustments, total transaction consideration was $48.0 million, funded from amounts available under Oil States' existing credit facility.

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