Civeo Corp (CVEO): M&A transaction — Civeo closes A$105M acquisition of four Australian villages with 1,340 rooms

On May 6, 2025, a wholly owned subsidiary of Civeo Corporation (the “Company”), Civeo Pty Ltd (the “Buyer”), completed its previously announced acquisition of four villages with 1,340 rooms in Australia’s Bowen Basin and the associated assets and customer contracts pursuant to an Asset Sale and Purchase Agreement (the “Purchase Agreement”), dated February 18, 2025, between the Company, the Buyer, the seller parties named therein (collectively, the “Sellers”), and Graham William Cleary as the Seller Guarantor. The Company paid to the Sellers an amount of cash equal to A$105,000,000 which was funded with cash on hand and borrowings under the Company’s revolving credit facility.