Bain Capital Sells Well Construction and Intervention Solutions Company Blackhawk to Frank’s International
Ropes & Gray represented Bain Capital Private Equity and Blackhawk Group Holdings, Inc., the parent company of Blackhawk Specialty Tools LLC, in the proposed sale of Blackhawk to Frank’s International N.V.
Headquartered in Houston, Blackhawk Specialty Tools is a leading supplier of engineered well construction and well intervention solutions providing premium automated top drive cement heads and related equipment, cementation products, and well intervention tools to the oil and gas industry. Bain Capital, a leading global private investment firm, acquired Blackhawk together with management in 2013.
Frank’s International is a global oil services company that provides highly engineered tubular services to leading exploration and production companies in both offshore and onshore environments, with a focus on complex and technically demanding wells.
The transaction, which was announced on Oct. 7, is valued at approximately $321 million. It is expected to be completed during the fourth quarter of 2016, subject to customary closing conditions.
The Ropes & Gray team (all of Boston unless otherwise stated) advising Bain Capital and Blackhawk included private equity partner Will Shields, securities & public companies partner Thomas Holden (San Francisco), tax partners Amanda Holt and David Saltzman, executive compensation & employee benefits partner Jennifer Rikoski, antitrust counsel Deidre Johnson, and private equity associate Adam Leamon.