Ranger Energy Services Acquires American Well Services for $90.5 Million
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Ranger Energy Services is acquiring American Well Services for $90.5 million, increasing its rig count by 25% and making it the largest well-servicing provider in the lower 48 states. The deal is expected to be immediately accretive to earnings, with $4 million in synergies and projected future EBITDA exceeding $100 million. The acquisition will be funded through cash, stock, and a performance-based earn-out, with plans to repay borrowings within a year, supported by strong free cash flows.
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