Enerflex to Acquire Exterran

Calgary based Enerflex to buy Houston based Exterran in an all stock deal valuing Exterran at approximately US$735 million.

• The implied value of the resulting combined company is approximately US$1.5 billion.
• Shareholders will receive 1.021 shares of Enerflex per Exterran share.
• Enerflex shareholders will own 72.5% of the combined company, with Exterran shareholders owning the remaining 27.5%.
• The deal requires regulatory and shareholder approvals, and is expected to close in mid 2022.
• The two companies provide similar products and services, and operate in many of the same areas.
• The company will remain headquartered in Calgary.
• The company will continue trading on the Toronto Stock Exchange, and intends to apply for listing on NYSE or NASDAQ.
• Enerflex (TSX:EFX) opened on Monday at C$7.04(US$5.58), down 11% from Friday’s close of C$7.90(US$6.27).
• Exterran (NYSE:EXTN) Opened 63% higher than Friday’s US$3 close at US$4.84.