Press Release: Variperm : Forum Energy Technologies Receives Approval to Proceed with Variperm Acquisition from Canadian Competition Bureau

HOUSTON--(BUSINESS WIRE)--Forum Energy Technologies, Inc. (NYSE: FET) today announced that it has received approval from the Canadian Competition Bureau to proceed with its planned acquisition of Variperm Energy Services. FET announced on November 2, 2023, its agreement to acquire Variperm Energy Services for consideration of $150 million of cash (subject to customary purchase price adjustments) and 2 million shares of FET's common stock, reflecting a valuation of approximately 3.7x Variperm's