Oilfield equipment maker Cactus announced on June 2, 2025, that its subsidiary will purchase a 65% interest in Baker Hughes' surface pressure control (SPC) business for $344.5 million. Baker Hughes will retain a 35% ownership stake in the newly formed joint venture.
The joint venture will operate independently from Cactus' existing businesses and will focus on international wellhead and production tree markets. This transaction is part of Baker Hughes' strategy to optimize its business portfolio, aiming to strengthen profitability and reallocate capital to higher-return segments.
The acquisition establishes Cactus’ position as a premier provider of surface pressure control solutions, while Baker Hughes maintains a strategic interest. The deal is expected to close in the second half of 2025, subject to regulatory approvals.
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