Houston, Texas, April 17, 2012– SCF Partners announced that Forum Energy Technologies, Inc. (“FET” or the “Company”) successfully completed an initial public offering of its common stock on April 17, 2012. The Company’s shares are listed on the New York Stock Exchange (NYSE) and trade under the ticker symbol of “FET.” FET issued 13,889,470 shares at $20.00 per share for net proceeds to the Company of $257.9 million and SCF Partners, as the selling shareholder, sold an additional 7,900,000 shares, including 2,842,104 shares sold by the selling shareholder pursuant to the full exercise of the underwriters’ option to purchase additional shares, for net proceeds of $147.2 million.
L.E. Simmons, President of SCF Partners, commented: “This is an important milestone for FET. Completing the IPO provides FET with a strong balance sheet that will facilitate the continued growth of the Company in the foreseeable future. We are also very excited about the high quality group of new investors that were attracted to the company’s strategy and future direction. Cris Gaut and his team have done a terrific job in building FET.”
J.P. Morgan, BofA, Merrill Lynch, Credit Suisse, Citigroup and Deutsche Bank Securities acted as joint book-running managers. Simmons & Company International and Tudor, Pickering, Holt & Co. acted as senior co-managers. Capital One Southcoast, Dahlman Rose & Company, FBR, Howard Weil Incorporated and Johnson Rice & Company L.L.C. acted as junior co-managers for the offering.
About Forum Energy Technologies
Forum Energy Technologies Inc., headquartered in Houston, Texas, is a global provider of manufactured technologies and applied products to the energy industry. With approximately 3,100 employees strategically located throughout the world, Forum is well positioned to provide the products and technologies essential to solving the increasingly complex challenges of the subsea, drilling and production sectors of the oil and gas industry.
About SCF Partners
SCF Partners, headquartered in Houston, Texas, is a private equity firm focused solely on energy services and equipment companies. SCF partners with experienced operational management, assists with additional growth through acquisitions and geographic expansion initiatives to build longstanding companies within the oilfield services industries.
SCF Partners
Theresa Eaton, Vice President
713.227.7888
teaton@scfpartners.com
A registration statement relating to these securities has been declared effective by the Securities and Exchange Commission. This offering will be made only by means of a written prospectus forming part of the effective registration statement. A written prospectus meeting the requirements of Section 10 of the Securities Act of 1933, when available, may be obtained from the offices of:
J.P. Morgan
c/o Broadridge Financial Solutions
1155 Long Island Avenue
Edgewood, NY 11717
Telephone: +1-866-803-9204
BofA Merrill Lynch
4 World Financial Center
New York, NY 10080
Attn: Prospectus Department
Email: dg.prospectus_requests@baml.com
Credit Suisse
Attention: Prospectus Department
One Madison Avenue
New York, New York 10010
Telephone: (800) 221-1037
Email: newyork.prospectus@credit-suisse.com
Citigroup
Attn: Prospectus Department
Brooklyn Army Terminal
140 58th Street, 8th Floor
Brooklyn, NY 11220
Telephone: 1-800-831–9146
Deutsche Bank Securities
Prospectus Department
Harborside Financial Center
100 Plaza One
Jersey City, NJ 07311
Telephone: 1-800-503-4611
Email: prospectus.cpdg@db.com