Ranger Energy Services to Acquire STEP Energy Services’ U.S. Coiled Tubing Assets
Ranger Energy Services agreed to acquire STEP Energy Services’ U.S. coiled tubing assets for approximately $27.5 million, consisting of $22.5 million in cash and $5.0 million in equity. The deal is expected to be immediately accretive to 2027 earnings, adding $80 million to $90 million in revenue and more than $10 million in EBITDA at a ~2.5x multiple. This acquisition positions Ranger as the second-largest U.S.
Key figures
- Deal Value Usd
- 27500000
- Employees hired
- 220
- Post close debt
- 30000000
- Consideration cash
- 22500000
- Consideration equity
- 5000000
- Ebitda multiple 2027
- 2.5x
- Synergies first year
- 2500000
- Ebitda 2027 pro forma
- 10000000
- Revenue 2027 pro forma
- $80 million to $90 million
AI analysis
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