In retrospect, the recent announcement by National Oilwell Varco that it will acquire Robbins & Myers really shouldn’t come as much of a surprise. The surprise, rather, might be that the deal didn’t come any sooner than it did. Maybe NOV decided it would have been poor form to have moved earlier given that R&M only completed its transformational acquisition of T3 Energy Services a little more than 18 months ago.
Regardless of the factors behind the deal’s timing, NOV picks up in R&M a number of products and services that fit well with NOV’s already expansive set of offerings. But it’s R&M’s BOPs (and related pressure control products and services), along its artificial-lift/tubulars line up, that seem to us at the heart of the deal. Continue reading “What Does NOV Get in Robbins & Myers?”