Forum Energy Technologies, Inc.
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Forum Energy Technologies, Inc. - overview
Established
2010
Location
-, Aberdeenshire, UK
Primary Industry
Oil & Gas
About
Forum Energy Technologies, Inc. specializes in delivering a comprehensive suite of innovative products and services for the oil, natural gas, and renewable energy industries, enhancing operational efficiency across diverse markets. Forum Energy Technologies, Inc. focuses on providing specialized equipment and services for the energy sector.
The company was founded in 2010 in the UK. Neal Lux serves as the CEO. The company has undergone significant changes, including raising USD 378. 95 mn during its initial public offering in April 2012.
Forum has also sold shares in strategic transactions, including a sale of its 40 percent stake in Ashtead Technology Ltd. in August 2019 for USD 36 mn, expected to conclude by the third quarter of 2019. Forum Energy Technologies, Inc. offers advanced drilling and production equipment tailored for the oil, natural gas, industrial, and renewable energy sectors.
Their flagship products include the FR120 Iron Roughneck, designed for high torque applications, and the CleanBore™ Buoyancy Sub, which optimizes casing runs. Their offerings meet rigorous industry standards, serving major oil and gas producers across North America, South America, Europe, the Middle East, and Asia-Pacific. In 2023, Forum Energy Technologies reported revenue of USD 69. 42 mn, with an EBITDA of USD 1.
39 mn. The company's revenue model is built on direct business-to-business transactions involving specialized equipment sales to clients in the energy sector, supported by a strong order backlog amounting to USD 263 mn. Forum Energy Technologies, Inc. plans to introduce new products designed to enhance operational efficiency within the next fiscal year.
The company aims to expand into the Asian markets by 2024, leveraging recent funding to support product development and market entry strategies. The funds raised during their IPO and subsequent transactions have been allocated to enhancing their product lineup and expanding their global reach.
Primary Industry
Oil & Gas
Sub Industries
Oil & Gas Equipment and Services, Oil & Gas Exploration and Production
Website
www.f-e-t.com
Total Amount Raised
Subscriber access only
Forum Energy Technologies, Inc. - timeline of key events
Forum Energy Technologies, Inc. - financials
| Fiscal Year Ended | Dec 31, 2012 | Dec 31, 2013 | Dec 31, 2014 | Dec 31, 2015 | Dec 31, 2016 | Dec 31, 2017 | Dec 31, 2018 | Dec 31, 2019 | Dec 31, 2020 | Dec 31, 2021 | Dec 31, 2022 | Dec 31, 2023 | Dec 31, 2024 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (USD) | 82,064,000 | 170,601,000 | 184,107,000 | 121,803,000 | 67,322,000 | 48,318,000 | 38,397,000 | 50,139,000 | 40,839,000 | 50,522,000 | - | - | - |
| % Revenue Growth (YoY) | - | 107.9% | 7.9% | (33.8%) | (44.7%) | (28.2%) | (20.5%) | 30.6% | (18.5%) | 23.7% | - | - | - |
| EBITDA (USD) | 24,888,000 | 38,060,000 | 41,314,000 | 24,237,000 | 17,283,000 | (5,393,000) | (3,401,000) | (1,355,000) | (2,533,000) | 6,782,000 | - | - | - |
| Operating Income (USD) | 20,719,000 | 32,575,000 | 35,954,000 | 19,306,000 | 12,531,000 | (9,260,000) | (4,467,000) | (1,953,000) | (3,115,000) | 6,282,000 | - | - | - |
| Operating Margin | 25.2% | 19.1% | 19.5% | 15.9% | 18.6% | (19.2%) | (11.6%) | (3.9%) | (7.6%) | 12.4% | - | - | - |
| % EBITDA Margin | 30.3% | 22.3% | 22.4% | 19.9% | 25.7% | (11.2%) | (8.9%) | (2.7%) | (6.2%) | 13.4% | - | - | - |
| NET Income (USD) | (16,920,000) | 25,312,000 | 19,343,000 | 15,933,000 | 10,315,000 | (8,251,000) | (9,725,000) | (3,062,000) | (2,859,000) | 6,278,000 | - | - | - |
| % Net Margin | (20.6%) | 14.8% | 10.5% | 13.1% | 15.3% | (17.1%) | (25.3%) | (6.1%) | (7.0%) | 12.4% | - | - | - |
Forum Energy Technologies, Inc. - deals
| Deals Type | Deal Status | Target (s) | Deal Date | Investor(s) | Seller(s) | Deal size (Mn) | Enterprise value (Mn) | Post-money valuation (Mn) | EBITDA multiple (x) | Revenue multiple (x) | Lead partner (s) |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Trade Sale | Completed | Variperm Canada Limited | - | ||||||||
| Add-on | Completed | ABZ and Quadrant Valve Brands | - | ||||||||
| Secondary Buyout | Completed | Ashtead Technology Ltd. | - | ||||||||
| Add-on, Trade Sale | Completed | Global Heat Transfer Limited | - | ||||||||
| Add-on | Completed | Ashtead Technology Ltd. | - |
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Forum Energy Technologies, Inc. - employee data
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