Nine divests production solutions unit to PE-backed Brigade [Reuters]
Nine Energy Service, Inc. (NINE)
Last nine energy service, inc. earnings: 3/9 06:30 am
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Source: Reuters
Nine divests production solutions unit to PE-backed Brigade - PE Hub Nine divests production solutions unit to PE-backed Brigade Nine Energy Service Inc, Brigade Energy Services LLC Turnbridge Capital. PRESS RELEASE HOTON–(BINESS WIRE)–Nine Energy Service, Inc. (“Nine” or the “Company”) (NYSE: NINE) today announced that it has sold its Production Solutions segment to Brigade Energy Services LLC (“Brigade”) for approximately $17 million in cash, subject to working capital adjustments. The transaction includes Nine’s fleet of 107 workover rigs, ancillary equipment and real estate associated with the 13 operating facilities throughout the United States. This divestiture will not impact Nine’s access to historic net operating losses. The transaction closed on August 30, 2019. “We are pleased to announce the divestiture of our well services business to Brigade. Brigade’s sole focus on excellence in the well service space, coupled with the Brigade management team’s strong leadership capa
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- 11/12/24 - Form 144
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