Forum Energy Technologies, Inc. (FET) acquired Variperm Energy Services, a provider of sand and flow control products for heavy oil applications, for $204 million (US$150 million) in cash and 2 million FET common shares. The purchase aims to enhance FET's downhole and artificial lift offerings. The cash portion was financed through available funds, an ABL credit facility, and a $60 million seller term loan due in December 2026 with an 11% interest rate. FET amended its ABL facility to support the acquisition, raising its limit to $250 million and extending its maturity to September 2028. FET granted 39,000 restricted stock units to fourteen Variperm employees as inducement grants. Goldman Sachs & Co. LLC, Gibson, Dunn & Crutcher LLP, and Goodmans LLP advised FET, while TPH&Co., Vinson & Elkins LLP, and Bennett Jones LLP represented Variperm in the transaction.