We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

Archer Inks $244M Deal To Sell Unit To Clearlake

Law360, New York (May 22, 2013, 11:50 AM EDT) -- Oslo, Norway-based oil services company Archer LT announced Wednesday that it is selling one of its North American divisions to an affiliate of Los Angeles private equity firm Clearlake Capital Group LP for $244 million, an all-cash deal set to help payoff some of the company's debt.

Archer will shed its North American rental and tubular division, which rents drilling equipment and provides tubular services throughout the U.S. and Mexico, the company said Wednesday. The well company said a majority of proceeds from the deal, which...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.