TechnipFMC, a leading global provider of subsea solutions, has announced an agreement to sell its Measurement Solutions business to One Equity Partners for $205 million in cash. The transaction is expected to close during the first half of 2024 and is subject to customary adjustments at the closing.
Latham & Watkins LLP represented TechnipFMC in the transaction, with a corporate deal team led by Chicago partner Christopher Drewry and Houston counsel Thomas Verity, along with associates Denny Lee, Kara Chung, Morgen Seim, and Byron Patton. Advice was also provided on transition services and intellectual property matters by New York partner Jeff Tochner and associate Sebastian Moss; on UK corporate matters by London partners Edward Barnett and Anna Ngo, with associate Harry Redford; on tax matters by Washington, D.C. partner Nicholas DeNovio and associates Pierce Pandolph and Nolon Blaylock; on finance matters by Houston partner Matthew Jones with associates Chris Wood, Michael Basist, and Chris Fanick; on EU finance matters by Paris partner Roberto Reyes Gaskin with associate Laurie Tomassian; on antitrust matters by Washington, D.C. partner Jason Cruise, Brussels counsel Tomas Nilsson