Five-way merger forms Forum Energy Technologies

The merger of Forum Oilfield Technologies, Triton Group, Subsea Services International, Global Flow Technologies, and Allied Technology has created Forum Energy Technologies.

Offshore staff

HOUSTON -- The merger of Forum Oilfield Technologies, Triton Group, Subsea Services International, Global Flow Technologies, and Allied Technology has created Forum Energy Technologies.

The Houston-based company will serve the drilling, production, and infrastructure areas of the energy industry through its drilling and subsea division, and the production and infrastructure division.

FET has appointed Cris Gaut as chairman and CEO; Charles Jones as president of the drilling & subsea division; Wendell Brooks as president of the production & infrastructure division; and James Harris as CFO.

SCF Partners, a majority owner of the five merged companies, has committed $100 million of new equity capital to support strategic growth initiatives. A group of eight major banks is providing a new $450 million revolving credit facility, with an additional $150 million accordion feature, to provide growth capital to FET.

08/03/2010

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