Disclosure Insight's  Instablog

Disclosure Insight
Send Message
John P. Gavin, CFA, is the founder and CEO of Disclosure Insight®, an independent publisher of investment research. Mr. Gavin has spent his entire career of over 25 years in the financial services industry. Prior to starting “DI” in 2000, he worked as an equity analyst and portfolio manager with... More
My company:
Disclosure Insight
My blog:
The D.I. Blog
  • Lufkin Industries Completes Acquisition - 3x Larger Than All Acquisitions in the Past 5 Years Combined 0 comments
    Dec 7, 2011 2:38 PM | about stocks: LUFK

    Lufkin Industries (NASDAQ: LUFK), a global supplier of oil field and power transmission products, recently announced the completion of its largest acquisition in the past 5 years. On 1-Dec-11, LUFK reported that it acquired substantially all of the assets of Quinn’s Oilfield Supply Ltd. for approximately $311 million.

    Prior to acquiring Quinn, LUFK had completed four acquisitions in the last five years, all of which occurred since March 2009. The combined consideration for those four totaled $93 million, $56 million of which was allocated to goodwill. The largest was the March 2009 acquisition of International Lift Systems for $50 million. The aggregate amount of goodwill recorded from these acquisitions represented approximately 60% of the total consideration paid by LUFK. In fact, at least 50% of the total price paid on each acquisition was allocated to goodwill. The allocation of the purchase price for Quinn’s is not yet available.

    Here is LUFK's press release on the acquisition.

    Stocks: LUFK
Back To Disclosure Insight's Instablog HomePage »

Instablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.

Comments (0)
Track new comments
Be the first to comment
Full index of posts »
Latest Followers

Latest Comments


Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.