Forum Energy closes Variperm buy; files historical & pro forma financials

FORUM ENERGY TECHNOLOGIES, INC.

Acquisition completed Jan 4, 2024; Variperm became a wholly owned subsidiary of Forum.
Variperm's cost of goods sold (inventories expensed) rose to $72.7M in 2022 from $31.1M in 2021.
Variperm had a $30M CAD operating loan facility; no pandemic subsidies in 2022 vs $1.0M in 2021.
Forum filed audited Variperm financials for 2021-2022 and unaudited nine-month Sept 2023 statements.

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