PCM is acquiring Halliburton Energy Services Inc., Canada Pump Business Line known as Europump
On June 26, 2020, PCM Artificial Lift Solutions Inc. (“PCM”) entered into an agreement for the purchase of Halliburton Energy Services, Inc. and its affiliates’ (“Halliburton”) Canada Progressive Cavity Pump Business Line (known as “Europump” or the “Business”). The transaction envisions that all of the equipment, inventory, technology and the majority of the employees of Europump will be included in the sale to PCM. The Business will continue to provide the highest product and service quality to its customers.
The transaction is expected to close on August 1, 2020.
In the interim period until the effective date of the sale of Business, Halliburton will continue to run and operate the Business in the usual course and will continue to provide excellent products and services. As part of the transaction, Halliburton and PCM will enter into a transition services agreement that will enable a smooth continuation of the ordinary course of business together through a brief transition period. Collectively, both PCM and Halliburton remain committed to a smooth transition and serving the customer with no interruption of Europump’s products and services.
Who is Europump?
Europump is a premium provider of progressive cavity pumps (PCP’s), surface equipment (both hydraulic and electric packages), field services and technical support for the oil & gas industry. Europump is recognized as one of the top brands in the Canadian oil and gas industry and has serviced several major oilfield customer contracts throughout its history.
Who Is PCM?
PCM was founded in 1932 by René Moineau, the inventor of the PCP. PCM first applied PCP’s to the oil & gas industry in the 1980’s and soon after established itself as a global leader in pump innovation. PCM manufactures its own proprietary elastomers specifically formulated for the challenges of the oil and gas industry. In 2012, PCM made the strategic move to service customers in Canada directly, subsequently adding key acquisitions of Amik Oilfield Equipment (2014) and Cougar Wellhead Services (2019).
“PCM is absolutely delighted with this significant opportunity of adding Europump’s experienced people, technology and legacy in the Canadian oil patch to our artificial lift solutions group” says Alex Damnjanovic, Director of PCM Oil & Gas.