Keane Group Agrees to Acquire Majority of Trican Well Service Ltd.’s U.S. Assets

Schulte served as legal adviser to Keane Group in its agreement to acquire the majority of Canada-based Trican Well Service Ltd.’s U.S. assets for a total consideration of $247 million, comprising $200 million in cash plus a minority interest stake in Keane Group. With the acquisition, Keane, a privately held U.S.-based well completion services company, will triple its frac capacity, acquire access to proprietary technology, add applied engineering capabilities and further expand its service offerings and geographic reach in the United States. The transaction, which was announced on Jan. 26, 2016, closed on March 16, 2016.

The Schulte team advising Keane Group was led by mergers & acquisitions partner Stuart D. Freedman. The team also included employment & employee benefits partner Ian L. Levin; tax partner Kurt F. Rosell; and former Schulte lawyers Kirby Chin, Caitlin R. Cornell, Andrew J. Fadale and John Garces.