Provider: Wright Reports
Archer Ltd: Business description, financial summary, 3yr and interim financials, key statistics/ratios and historical ratio analysis.
Provider: Reuters Investment Profile
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Archer Ltd Announces Divestiture Of North American Rental And Tubular Division To Clearlake Capital Group
Archer Ltd announced that the Company has agreed to sell North American Rental and Tubular division to an affiliate of Clearlake Capital Group, L.P. for approximately $244 million. The all-cash transaction is expected to close in June 2013. Archer will use the majority of the proceeds from the sale to pay down outstanding balances on credit facilities. Simmons & Company International served as exclusive financial advisor and Andrews Kurth LLP served as legal advisor to Archer in this transaction. Jefferies LLC served as financial advisor and Vinson & Elkins LLP served as legal advisor to Clearlake in this transaction.
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