Cactus secures majority stake in Baker Hughes' SPC unit [Yahoo! Finance]
Baker Hughes Company (BKR)
Company Research
Source: Yahoo! Finance
Based in the US, Cactus focuses on supplying pressure control equipment for the oil and gas industry. Baker Hughes' SPC business deals in the design, manufacture and servicing of wellheads and production tree equipment, mostly for international markets. Following the deal, Cactus currently holds 65% equity in the SPC joint venture (JV), with Baker Hughes maintaining a 35% stake. The deal, which was announced in June 2025 , delivers $344.5m in cash proceeds, prior to the customary closing adjustments to Baker Hughes. The proceeds are expected to bolster the company's balance sheet and enhance its liquidity position. Cactus chairman and CEO Scott Bender said: “I am excited to welcome the talented SPC team to the Cactus organisation. This transaction is transformational for Cactus as it diversifies our geographic footprint and provides us with access to new growth markets. “We look forward to operating the business with our long-standing focus on safety, customer execution, ma
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BKR
Earnings
- 10/23/25 - Beat
BKR
Sec Filings
- 12/17/25 - Form 4
- 12/17/25 - Form 4
- 12/17/25 - Form 4
- BKR's page on the SEC website