Daily News: September 5, 2017

Wells Fargo Supports NCS Multistage Acquisition of Spectrum Tracer


NCS Multistage Holdings consummated a previously announced acquisition of Spectrum Tracer Services.

NCS Multistage acquired 100% of the equity interests in Spectrum in exchange for $80 million, on a cash-free, debt-free basis, which was comprised of $73 million in cash and 400,000 shares of common stock.

To support the acquisition, NCS Multistage amended its credit agreement dated May 4, 2017, with Wells Fargo Bank as administrative agent.

The amendment increased the loan commitment available under the senior secured revolving credit facility available to the U.S. borrower from $25 million to $50 million. The loan commitment available under the senior secured revolving credit facility available to the Canadian borrower remained at $25 million.