Forum Buys Merrimac, Twelfth Acquisition In Two Years
by: Andrew Schneider, December 5, 2012 11:12:00 pm
Forum Energy Technologies organized just two years ago, out of a five-way merger. It’s been expanding aggressively ever since. Merrimac is the twelfth acquisition for the oilfield equipment manufacturer in two years and the second in three days. On Monday, Forum announced the purchase of Dynacon, Inc., based in Bryan.
Cris Gaut is Forum’s chairman and CEO.
“We tend to look to grow these companies and add to their production capability — including, typically, the number of employees they have. We are not a company that looks to get cost synergies or reductions as a result of acquisitions.”
Gaut says Forum has added roughly 500 jobs in the Houston area over the past year. He says the company plans additional acquisitions in 2013.