© 2013 The Texas Lawbook.
By Natalie Posgate
Staff Writer for The Texas Lawbook
Houston-based Quantum Energy Partners and Forum Energy Technologies announced Wednesday an agreement to jointly acquire Global Tubing from ARC Financial Corp., a Calgary-based private equity firm.
No financial details of the transaction were disclosed, according to a statement by Forum.
When the transaction closes, Forum and Quantum will each hold an equal interest in Global Tubing, and certain members of Global Tubing’s management team will retain a small interest. Global Tubing is located in Dayton, Texas, just 37 miles northeast of Houston. It provides coiled tubing strings and related services to customers worldwide.
Vinson & Elkins is advising Quantum in the deal, with M&A partners Keith Fullenweider (Houston) and Caroline Blitzer Phillips (New York) as the lead lawyers. Houston associates Roxanne Almaraz and Christine Shaheen also played a large role. Also assisting with the deal are Houston partners Brian Moss and John Lynch; Dallas partner Brian Bloom; Houston associates James Longhofer, Stephen Jacobson, Devika Kornbacher and Martin Luff; and Dallas associate Russell Oshman.
Baker Botts is representing Forum, with Houston transactional partner Tull Florey leading the deal. Houston M&A partner Sarah McLean of Thompson & Knight is representing Global Tubing in the transaction.
Quantum’s general counsel is James Baird, also the company’s managing director. Before joining Quantum, Baird spent 35 years at Andrews Kurth practicing partnership, limited liability company and securities tax law. He was also Quantum’s primary legal counsel on almost all of Quantum’s private equity investments.
Forum’s general counsel and senior vice president is James McCulloch, who formerly was a GC at Global Marine Inc., and then GlobalSantaFe Corporation after the company merged with Santa Fe International Corporation in 2001. He served in that position until December 2007, when the company merged with Transocean Inc. Before working in-house, McCulloch was an associate at Phelps Dunbar in New Orleans.
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