Apergy to Combine with Ecolab’s Upstream Energy Business in a Tax-Free Transaction, Creating a Global Leader in Production-Optimization Solutions
APERGY CORP (APY)
NASDAQ:AMEX Investor Relations:
investors.apergy.com/investor-relations
Company Research
Source: GlobeNewswire
Global leader for life of field production optimization solutions, including artificial lift equipment, chemical solutions, and digital technologies, offering customers increased productivity over the well lifecycle, with approximately 80% of revenue from production-related product lines Combined business expected to generate pro forma revenue of approximately $3.5 billion and adjusted EBITDA of approximately $615 million (before synergies) in 2019 with strong recurring revenue, cash flow, and through-cycle performance Expected annual run-rate cost synergies of $75 million within 24 months of closing, plus incremental sales growth opportunities, benefiting both sets of shareholders Financially compelling transaction with strong benefits for Apergy and Ecolab shareholders, creating a combined company enterprise value of approximately $7.4 billion, including approximately $3.9 billion¹ of stock to Ecolab shareholders and assumption of estimated Ups
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