Frank’s is paying $150 million in cash plus 12.8 million in common stock for Blackhawk Group Holdings, the parent company of Houston-headquartered Blackhawk Specialty Tools.
The company is being bought from private equity firm Bain Capital, which acquired Blackhawk in 2013.
The purchase is being made on a cash-free, debt-free basis, but some $80 million of outstanding Blackhawk debt will be paid on closing from proceeds of the transaction.
Frank’s
