Arcapita Signs Agreement To Buy Varel International

摘要

Arcapita Inc. reports that its affiliates have signed an agreement to acquire Varel Holdings Inc. from KRG Capital Partners for $369 million. According to Arcapita, Varel is the world's fastest-growing manufacturer of drill bits for oil and gas, mining, and industrial markets. With operations and sales offices in 41 countries, Varel serves a range of national and multinational oil and gas companies.