secwatch.observer — SEC 8-K summary
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Issuer:     FORUM ENERGY TECHNOLOGIES, INC. (FET)
CIK:        0001401257
Form:       8-K
Filed at:   2024-06-11T23:59:59+00:00
Accession:  0001401257-24-000102
Event type: m_and_a
Sentiment:  positive
Materiality: 0.70
Item codes: 2.02, 9.01, 8.01
LLM model:  deepseek-v4-flash:cloud@v2

Forum Energy Technologies files Variperm acquisition financials; target earned $50.3M in 2023
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- Acquisition of Variperm closed Jan 4, 2024; filing provides audited Variperm FY 2023 financials.
- Variperm FY 2023 revenue $174.3M, up 14% from $153.2M in 2022; net earnings $50.3M vs $37.0M.
- Gross profit $88.4M (50.7% margin) in 2023; G&A expenses $19.1M.
- Variperm reduced short-term borrowings to zero from $12.3M; paid $19.4M dividends in 2023.
- Forum also filed unaudited pro forma combined balance sheet and P&L for FY 2023.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1401257/000140125724000102/0001401257-24-000102-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1401257/000140125724000102/fet-20240610.htm
  HTML page:      https://secwatch.observer/filing/0001401257-24-000102

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