London—Dentons has advised KPS Capital Partners, a global private equity firm focused on investing in manufacturing and industrial companies across a diverse array of industries, on its acquisition of the Lufkin rod lift solutions business from Baker Hughes.

Lufkin was founded in 1902 and acquired in 2013 by General Electric's Oil & Gas division. The division subsequently merged with Baker Hughes, Inc. in 2017.

Lufkin, headquartered in Missouri City, Texas, is a leading global provider of rod lift products, technologies, services and solutions, including automated control and optimisation equipment and software for rod lift equipment to the oil and gas industry. With over 100 years of industry leadership, Lufkin manufactures a complete line of surface pumping units, downhole sucker rod pumps and automation systems in six manufacturing and assembly facilities worldwide. Lufkin has an extensive global service footprint that operates in every critical rod lift market in the world.

On close, assets of the Lufkin rod lift business will transfer to an affiliate of KPS, including brand rights, facilities, intellectual property and personnel. Lufkin's power transmission business will remain part of the Baker Hughes portfolio and is not included in the transaction with KPS.

Stephen Levy, partner in Dentons' UK Corporate team, said, "We're delighted to support KPS on this acquisition which will allow KPS to build a successful energy platform on the foundation of Lufkin."

Dentons' multi-jurisdictional team was led by Stephen Levy and Joseph Altendorff and provided global (non-US) diligence and other transactional advice (including on foreign direct investment, merger control, commercial contracts, employment and pensions) in 13 jurisdictions. Lead legal transaction and US legal advice was provided by Paul, Weiss, Rifkind, Wharton & Garrison.

In 2019, Dentons also advised KPS on its acquisition of Brunswick Corporation's fitness brands and the acquisition of Howden from Colfax Corporation, as well as advising KPS Mid-Cap Investments on the acquisition of AIS Global.

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