Norton Rose Fulbright cross-border team advises Enerflex Ltd. on its public merger with Exterran Corporation

Global Press release - Business January 24, 2022

Lawyers from Norton Rose Fulbright’s Dallas, Houston, New York, Calgary, Belgium, London, Mexico City and Johannesburg offices advised Enerflex Ltd. (Enerflex) on its stock-for-stock business combination with Exterran Corporation (Exterran), creating a combined entity with an implied combined enterprise value of approximately US$1.5 billion.

The transaction, which is expected to close during the second or third quarter of the year, will create a premier integrated global provider of energy infrastructure. The merger will create a company of substantial scale and increased capabilities worldwide.

The deal value for Exterran is approximately US$735 million, and Enerflex and Exterran shareholders will respectively own approximately 72.5% and 27.5% of the total Enerflex common shares outstanding.

Enerflex is a single source supplier of natural gas compression, oil and gas processing, refrigeration systems and electric power generation equipment and related engineering and mechanical service expertise. Headquartered in Calgary, Canada, Enerflex has approximately 2,000 employees worldwide and has businesses throughout the world in various countries. 

Exterran is a global systems and process company offering solutions in the oil, gas, water and power markets with operations in 25 countries and headquartered in Houston.

The team was led by Brian Fenske (Houston) and Justin Ferrara (Calgary) with assistance from Warren Nimetz, Gerald Stein (New York), Andy Eklund  (Washington, DC), Amelia Xu, Ronald Adzgery, Lee McIntyre, Olivia Roberts, Kara von Schnackenberg, Jenelle Tubergen, Braxton Wilks, Dan Prati (Houston), Todd SchroederCassidy Tennyson, George Khoukaz (Dallas), Jennifer McPherson, Dion Legge, Rujuta Patel, Emily McDermott, Katherine MacPhail, Alexander Crisp, Brian Milne, Etienne Godel (Calgary), Ian Giles (London), Violetta Bourt (Brussels), Liliana Anzaldua Medina, Dante Trevedan (Mexico City) Marianne Wagener and James Donald (Johannesburg).

 

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International Partner, Norton Rose Fulbright US MX, S.C.
Head of Antitrust and Competition, South Africa; Director