---
schema_version: "secwatch.filing_event.v1"
accession: "0001401257-23-000086"
form_type: "8-K"
ticker: "FET"
cik: "0001401257"
company_name: "FORUM ENERGY TECHNOLOGIES, INC."
filed_at: "2023-11-03T23:59:59+00:00"
generated_at: "2026-06-08T22:14:31.882644+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.9
calibrated_materiality_score: 0.9
confidence: "high"
source: SEC EDGAR
---

# FET acquires Variperm for $150M cash+2M shares; pro forma adj EBITDA +77%

## Summary
- Consideration: $150M cash + 2M FET shares at ~3.7x Variperm TTM EBITDA as of Sep 30, 2023.
- Pro forma combined: revenue $873M (+17%), adj EBITDA $121M (+77%), margin 14% (+470 bps).
- Financing: $90M cash on hand, ABL borrowings, and up to $60M seller term loan (11% initial rate).
- ABL credit facility amended to increase revolver to $250M and extend maturity to Sep 2028.
- Director Emily Reichert retired effective Nov 2, 2023; departure not due to disagreement.

## SEC filing metadata
- accession: 0001401257-23-000086
- form_type: 8-K
- ticker: FET
- cik: 0001401257
- company_name: FORUM ENERGY TECHNOLOGIES, INC.
- filed_at: 2023-11-03T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.9
- calibrated_materiality_score: 0.9
- confidence: high
- sec_items: 1.01, 3.02, 5.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1401257/000140125723000086/0001401257-23-000086-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1401257/000140125723000086/fet-20231101.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001401257-23-000086
- JSON: https://secwatch.observer/filing/0001401257-23-000086.json
- Plain text: https://secwatch.observer/filing/0001401257-23-000086.txt

## Key facts
- Executive change
  Emily Reichert retired as Director at FORUM ENERGY TECHNOLOGIES, INC..
  - Action: retired
  - Role: Director
  source text: On November 2, 2023, Dr. Emily Reichert, Ph.D., a member of the Forum board of directors (the “Board”) and the Nominating, Governance and Sustainability Committee, notified Forum of her retirement from the Board, effective as of November 2, 2023, to accommodate her recent appointment as Chief Executive Officer of the Massachusetts Clean Energy Center.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1401257/000140125723000086/0001401257-23-000086-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.