The Firm is advising J.P. Morgan in providing committed debt financing for Cactus, Inc. (“Cactus”) in connection with the announced acquisition of FlexSteel Technologies Holdings, Inc. and its affiliates through a merger with its holding company, HighRidge Resources, Inc. (“FlexSteel”).
Cactus designs, manufactures, sells and rents a range of highly engineered wellhead and pressure control equipment. Its products are sold and rented principally for onshore unconventional oil and gas wells and are utilized during the drilling, completion and production phases of its customers’ wells. In addition, it provides field services for all its products and rental items to assist with the installation, maintenance and handling of the wellhead and pressure control equipment. Cactus operates service centers throughout the United States and Australia, while also providing equipment and services in select international markets.
FlexSteel designs, manufactures, sells and installs highly engineered spoolable pipe technologies. FlexSteel’s steel reinforced pipeline solutions are sold principally for onshore oil and gas wells and are utilized during the production phases of its customers’ wells.
The Simpson Thacher team includes Erland Modesto, Andrew Lanius, Brandon Barton, Jacob Sims and Christine Robb (Banking and Credit); Brian Rosenzweig, Dave Azarkh, Maggie Selbe and Enzo Salamone (Capital Markets); Michael Mann (Tax); Mike Isby (Environmental); Ryan Stott (ECEB); and Bobbie Burrows (IP).