Expro
{{Short description|International energy service company}}
{{Use dmy dates|date=April 2022}}
{{Infobox company
| name = Expro
| logo = Expro logo.svg
| logo_size = 150px
| type = Publicly held company
| traded_as = {{NYSE|XPRO}}
| foundation = {{start date and age|1938}}
| location = Houston, Texas
| key_people = Michael Jardon
(Chief executive officer)
| industry = Energy
| products = Well Construction, Well Flow Management, Subsea Well Access and Well Intervention and Integrity
| revenue = US$1.4 billion (2022)
| operating_income =
| net_income =
| num_employees = >6,500
| subsid =
| homepage = {{URL|expro.com}}
| caption =
| footnotes =
}}
Expro is an energy services provider headquartered in Houston, Texas, United States.
History
The company was founded by J. Trewhella, J. Ross and H. Green in 1973 at Great Yarmouth as Exploration & Production Services (North Sea) Ltd with the objective of carrying out well testing in the North Sea. In 1986, about 84% of the company was acquired by Flextech from whom the management subsequently bought out the business in 1992. The company was first listed on the London Stock Exchange in 1994. In 2006, it acquired PowerWell Services, another leading well management concern, for $674.5 million.{{cite web| url= https://www.offshore-mag.com/business-briefs/article/16791584/expro-international-group-aquires-powerwell-services |title= Expro International Group acquires PowerWell Services| website= offshore-mag.com| date= August 7, 2006| access-date= June 18, 2020}}
=Takeover=
In May 2008, Halliburton made a £1.7 billion takeover of the business,{{cite news| url= https://uk.reuters.com/article/expro-halliburton-idUKL2348413120080523 | archive-url= https://web.archive.org/web/20200619130615/https://uk.reuters.com/article/expro-halliburton-idUKL2348413120080523 | url-status= dead | archive-date= 19 June 2020 |date= May 23, 2008 |title= Halliburton offers 1.7 bln pounds for Expro| first= Dan| last= Lalor| place= London| website= Reuters.com| access-date= June 18, 2020}} while a competing bid worth £1.8bn was made the following month by Umbrellastream, a Candover-led consortium also comprising Goldman Sachs and Alpinvest.{{cite web| url= http://www.ft.com/cms/s/0/33324a48-43d6-11dd-842e-0000779fd2ac.html |website= Financial Times| via= FT.com| title= Court clears Expro sale to Candover-led group| url-access= subscription| access-date= June 18, 2020}}{{cite news| url= https://www.reuters.com/article/press-digest-financial-times-june-27/press-digest-financial-times-june-27-idUSL2741480620080627| title= PRESS DIGEST - Financial Times - June 27| website= Reuters.com| date= June 26, 2008| access-date= June 18, 2020}} An improved bid from Halliburton was then rejected by the Expro board, a position backed by the High Court after an appeal lodged by a group of activist shareholders.{{cite news| url= http://dealbook.blogs.nytimes.com/2008/06/27/judge-rejects-hedge-funds-attempts-to-block-candover-expro-deal/|title=Judge Rejects Hedge Funds' Attempts to Block Candover-Expro Deal|last=Ross Sorkin|first=Andrew|date=27 June 2008 |work= The New York Times| access-date=2008-07-01}} The acquisition of Expro by Umbrellastream was completed in July 2008.{{cite web| url=http://www.ftse.com/tech_notices/2008/Q2/19729_20080626_Expro_International_update.jsp|title=Expro International Group PLC (UK): Scheme of Arrangement – Update| date= 26 June 2008|publisher=FTSE Group|access-date=2008-07-01|archive-url= https://web.archive.org/web/20110614113814/http://www.ftse.com/tech_notices/2008/Q2/19729_20080626_Expro_International_update.jsp|archive-date=14 June 2011|url-status=dead}}
In March 2021 Expro announced a merger with Frank's International.{{Cite web |last= |first= |date=11 March 2021 |title=Expro and Frank's to Combine to Create a Leading Full-Cycle Service Provider |url=https://www.expro.com/news/expro-and-franks-to-combine-to-create-a-leading-full-cycle-service-provider |access-date=2022-06-29 |website=Expro |language=en}} The merger was completed in October 2021 and began trading under NYSE:XPRO.{{Cite web |date=2021-10-01 |title=Expro and Frank's Complete Merger, Creating a New Full-Cycle Energy Services Leader |url=https://www.businesswire.com/news/home/20211001005603/en/Expro-and-Frank%E2%80%99s-Complete-Merger-Creating-a-New-Full-Cycle-Energy-Services-Leader |access-date=2022-06-29 |website=www.businesswire.com |language=en}}
References
{{reflist}}
External links
- {{official website|http://www.expro.com}}
{{Energy in the United Kingdom|companies}}
{{Authority control}}
Category:Companies based in Reading, Berkshire
Category:Companies formerly listed on the London Stock Exchange
Category:Business services companies established in 1973
Category:1973 establishments in England
Category:Oilfield services companies
Category:Engineering companies of the United Kingdom