KPS Capital Partners Acquires Lufkin Industries Business From Baker Hughes

Updated 1 year 2 months ago

KPS Capital Partnres has agreed to acquired the Lufkin rod lift solutions business from Baker Hughes. Lufkin was founded in 1902 and acquired by GE Oil & Gas in 2013 which became part of Baker Hughes in 2017. This includes brand rights, facilities, intellectual property, and personnel. Simmons advised KPS, and Citi and Tudor Pickering Holt advised Baker Hughes, and the deal closed in June 2020.