Mergers & Acquisitions ·
Ranger Energy Services, Inc. entered into an Asset Purchase Agreement on August 31, 2026, to acquire the U.S. coiled…
RNGRRanger Energy Services, Inc.
Ranger Energy Services, Inc. entered into an Asset Purchase Agreement on August 31, 2026, to acquire the U.S. coiled tubing assets of STEP Energy Services for approximately $27.5 million. The consideration consists of $22.5 million in cash and $5 million in Class A Common Stock shares issued based on a 30-day volume-weighted average price prior to closing. The transaction includes 13 coiled tubing spreads, related equipment, inventory, customer contracts, and approximately 220 employees. Completion is expected around September 11, 2026, subject to customary closing conditions including third-party consents. Pro forma financials indicate the acquisition will add $80 million to $90 million in revenue and over $10 million in EBITDA for 2027, with at least $2.5 million in first-year cost synergies. The deal positions Ranger as the second-largest U.S. coiled tubing operator in the onshore market. This company operates in the oilfield services industry, providing high-specification workover rigs and completion solutions to the U.S. onshore energy sector.