Private firm One Equity Partners (OEP) completed the acquisition of TechnipFMC’s measurement solutions business, according to a March 27 press release.
Part of OEP’s “corporate carve-out strategy,” the business will be rebranded as Guidant and specialize in measurement technology, digital and automation solutions and global systems, the release said.
“[Guidant’s] creation came about through consistent collaboration between the management team, OEP’s team and a large group of dedicated outside advisors to complete a complex corporate carve-out, involving three separate business units spread across multiple countries,” said J.B. Cherry, partner at OEP.
Guidant’s CEO Laura Schilling said that there is increased demand for instrumentation and automation solutions due to new regulations, fuel diversification, green energy investment, evolving data security and increasing life of assets.
OEP said it completed 21 similar business unit divestitures across its latest four funds, including 11 which operate in industrial focused end-markets.
Recommended Reading
Exxon’s Guyana Gas Project a “Win-Win,” Set for Hook-up by Year-end ‘24
2024-04-26 - Exxon Mobil Corp. CEO Darren Woods said the company’s gas-to-power project in Guyana as a “win-win proposition particularly for the people of Guyana” when completed and hooked-up by year-end 2024.
Segrist: The LNG Pause and a Big, Dumb Question
2024-04-25 - In trying to understand the White House’s decision to pause LNG export permits and wondering if it’s just a red herring, one big, dumb question must be asked.
Texas LNG Export Plant Signs Additional Offtake Deal With EQT
2024-04-23 - Glenfarne Group LLC's proposed Texas LNG export plant in Brownsville has signed an additional tolling agreement with EQT Corp. to provide natural gas liquefaction services of an additional 1.5 mtpa over 20 years.
US Refiners to Face Tighter Heavy Spreads this Summer TPH
2024-04-22 - Tudor, Pickering, Holt and Co. (TPH) expects fairly tight heavy crude discounts in the U.S. this summer and beyond owing to lower imports of Canadian, Mexican and Venezuelan crudes.
What's Affecting Oil Prices This Week? (April 22, 2024)
2024-04-22 - Stratas Advisors predict that despite geopolitical tensions, the oil supply will not be disrupted, even with the U.S. House of Representatives inserting sanctions on Iran’s oil exports.