Hunting to acquire Titan Specialties for $775M

Hunting PLC has agreed to acquire Titan Specialties Ltd. for a total consideration of $775 million, subject to adjustments. Hunting PLC is an international energy services provider to the world's leading upstream oil and gas companies. Established in 1874, it is a fully listed public company traded on the London Stock Exchange. 

The company maintains a corporate office in Houston, is headquartered in London and has principal operations in Canada, China, Hong Kong, Indonesia, Mexico, Netherlands, Singapore, UAE, the UK, and the US. 

Based in Pampa, Texas, Titan is a provider of perforating gun systems, shaped charges, well logging instrumentation, perforating gun switches and other engineered hardware used in the drilling, completion and maintenance of oil and gas wells. 

The transaction is expected to close in September 2011 and is subject to customary closing conditions. Simmons & Co. International served as financial advisor to Hunting PLC.



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