Ranger Energy to acquire STEP's U.S. coiled tubing assets for $27.5M

Ranger Energy Services, Inc.

Deal: $27.5M total ($22.5M cash + $5M stock) for STEP's U.S. coiled tubing assets; close expected Sept 11, 2026.
Adds 13 coiled tubing spreads, ~220 staff; makes Ranger #2 U.S. coiled tubing operator.
Pro forma 2027 revenue $80-90M, EBITDA >$10M incl. $2.5M synergies; ~2.5x EBITDA multiple.
Funded via revolver borrowings; post-close borrowings ~$30M; expected accretive in 2027.
Includes COIL+ technology and five facilities across Bakken to South Texas.

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