A Locke Lord team led by Lauren Corbeil (Houston) represented Hunting PLC in the sale of the operating assets of its subsidiary Hunting Energy Services (Drilling Tools), Inc. (HESDT), to Rival Downhole Tools LC (Rival), a leader in downhole drilling technologies. The transaction involved the sale of the operating assets of HESDT in exchange for Hunting’s acquisition of a 23.5% minority equity interest in Rival. Rival will take on HESDT’s facilities in Texas, Wyoming and Pennsylvania and further expand its footprint. Additional assistance was provided by Joe Perillo, Jerry Higdon, Scott Hunsaker, Berne Kluber, Paul Pruett, Buddy Sanders, David Gregory and Jason McCloskey (all of Houston) and Geoff Polma (Dallas).
Posted on December 21, 2020