Frank’s International Buying Lafayette Company
It was announced Thursday, Frank's International will buy Lafayette Based Timco Services. Frank's is headquartered in Houston, and has offices here in Lafayette. Fuelfix.com reports the deal is worth $95 million, 75million in cash, with another 20 million contingent upon performance.
Frank’s CEO Gary Luquette said, "This transaction is a unique opportunity to expand our presence in the U.S. land market.”
Timco president Mark Guidry added," By joining forces with Frank’s International and gaining access to its proprietary technology, we will significantly improve our quality and breadth of services to our clients.”
The deal is expected to be finalized this summer.