Cactus secures majority stake in Baker Hughes’ SPC unit

Cactus has completed its antecedently announced acquisition of a bulk involvement successful Baker Hughes’ aboveground unit power (SPC) business.

Based successful the US, Cactus focuses connected supplying unit power instrumentality for the lipid and state industry.

Baker Hughes’ SPC concern deals successful the design, manufacture and servicing of wellheads and accumulation histrion equipment, mostly for planetary markets.

Following the deal, Cactus presently holds 65% equity successful the SPC associated task (JV), with Baker Hughes maintaining a 35% stake.

The deal, which was announced successful June 2025, delivers $344.5m successful currency proceeds, anterior to the customary closing adjustments to Baker Hughes. The proceeds are expected to bolster the company’s equilibrium expanse and heighten its liquidity position.

Cactus president and CEO Scott Bender said: “I americium excited to invited the talented SPC squad to the Cactus organisation. This transaction is transformational for Cactus arsenic it diversifies our geographic footprint and provides america with entree to caller maturation markets.

“We look guardant to operating the concern with our long-standing absorption connected safety, lawsuit execution, margins and returns, which volition present semipermanent worth to shareholders.”

Baker Hughes said that the completion of this transaction marks a milestone successful the company's worth instauration strategy and reflects its absorption connected disciplined portfolio management, operational execution and superior efficiency.

The SPC JV aims to solidify its beingness successful the overseas marketplace for aboveground wellhead and accumulation histrion systems portion operating independently from Cactus' existing businesses.

The concern enables Baker Hughes to reallocate superior towards higher-return ventures, thereby enhancing net and currency travel resilience.

Piper Sandler & Co. served arsenic the exclusive fiscal advisor to Cactus and Bracewell acted arsenic ineligible counsel successful relation with the transaction.

In September past year, Baker Hughes announced a multi-year declaration with Petrobras, extending the deployment of the Blue Marlin and Blue Orca stimulation vessels.

"Cactus secures bulk involvement successful Baker Hughes’ SPC unit" was primitively created and published by Offshore Technology, a GlobalData owned brand.

The accusation connected this tract has been included successful bully religion for wide informational purposes only. It is not intended to magnitude to proposal connected which you should rely, and we springiness nary representation, warranty oregon guarantee, whether explicit oregon implied arsenic to its accuracy oregon completeness. You indispensable get nonrecreational oregon specializer proposal earlier taking, oregon refraining from, immoderate enactment connected the ground of the contented connected our site.