Nextier Asset Acquisition Expands Last Mile Logistics Capabilities; Nextier Completes Coiled Tubing Sale
Acquiring Company
NexTier Oilfield Solutions
Acquired Company
NexTier Oilfield Solutions
Description
NexTier Oilfield Solutions Inc. (NYSE: NEX) (the "Company") and NexTier Completion Solutions Inc. (a wholly-owned subsidiary of the Company) entered into and closed a definitive agreement to purchase substantially all assets (and assume certain related liabilities) of the sand hauling, wellsite storage and last mile logistics businesses of Continental Intermodal Group LP ("CIG") and its subsidiaries (the "Acquisition") from CIG, Continental Intermodal Group – Trucking, LLC ("Trucking") and CIG Logistics LLC (together with Trucking and CIG, "Sellers") for an aggregate purchase price of (i) approximately $27 million in cash paid at closing to the Sellers plus (ii) 500,000 shares of common stock, par value $.01 per share (the "Shares") issued to CIG. Through the Acquisition, NexTier Completion Solutions Inc. now owns all of the rights and interests in the SANDSTORM® Wellsite Storage Technology, and related intellectual property, as well as in certain other assets, that were previously owned by the Sellers.
Quick answer
NexTier Oilfield Solutions is acquiring NexTier Oilfield Solutions, announced August 3, 2022.
- How much did NexTier Oilfield Solutions pay for NexTier Oilfield Solutions?
- The deal value was not disclosed.
Source: Fundz verified event record.
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Who to call at NexTier Oilfield Solutions, and when
When NexTier Oilfield Solutions changes hands, the new owners review vendors, systems and leadership. That is when the door opens.
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Frequently asked
Who acquired NexTier Oilfield Solutions?
NexTier Oilfield Solutions was acquired by NexTier Oilfield Solutions. The deal was reported on August 3, 2022. Headquartered in Houston, Texas, NexTier is an industry-leading U.S. land oilfield service company, with a diverse set of well completion and production services across active and demanding basins. NexTier Oilfield Solutions is privately held and operates in Energy.
When did NexTier Oilfield Solutions acquire NexTier Oilfield Solutions?
NexTier Oilfield Solutions's acquisition of NexTier Oilfield Solutions was reported on August 3, 2022. NexTier Oilfield Solutions Inc. (NYSE: NEX) (the "Company") and NexTier Completion Solutions Inc. Fundz records the date the transaction was first publicly reported, sourced from filings and company announcements.
What does NexTier Oilfield Solutions do?
Headquartered in Houston, Texas, NexTier is an industry-leading U.S. land oilfield service company, with a diverse set of well completion and production services across active and demanding basins. It is privately held, operating in Energy.
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