KLX’s completing the Spin-Off of KLX Energy Services Holdings, Inc.


Freshfields Bruckhaus Deringer has advised KLX Inc. and KLX Energy Services Holdings, Inc. (“KLX Energy Services”) in connection with KLX’s spin-off of KLX Energy Services.

The spin-off was completed on September 14, 2018, when KLX Energy Services became an independent publicly-traded company listed on Nasdaq (NASDAQ: KLXE).

KLX Energy Services is a leading U.S. onshore provider of value-added, mission critical oilfield services focused on completion, intervention and production activities.

Freshfields is also representing KLX in the sale of its aerospace solutions business to The Boeing Company for approximately $4.25 billion. The spin-off of KLX Energy Services was a condition to the completion of the sale to Boeing, which is expected to close in the fourth calendar quarter of 2018.

Valerie Ford Jacob (picture), co-head of the Firm’s global capital markets group and co-head of the Firm’s financial institutions group, led the Freshfields team on the deal. In addition, the Freshfields NY team in connection with the spin-off was led by Michael Levitt, a capital markets partner; Brian Rance, a finance partner; Howard Klein, head of the Firm’s US employee benefits group; Robert Scarborough, a tax partner; Linda Martin, co-head of Freshfields’ global financial institutions disputes group; and Mena Kaplan, head of US intellectual property. Omar Pringle and Valerie Ford Jacob led the Freshfields M&A team.

Involved fees earner: Valerie Jacob – Freshfields Bruckhaus Deringer LLP; Michael Levitt – Freshfields Bruckhaus Deringer LLP; Brian Rance – Freshfields Bruckhaus Deringer LLP; Howard Klein – Freshfields Bruckhaus Deringer LLP; Robert Scarborough – Freshfields Bruckhaus Deringer LLP; Linda Martin – Freshfields Bruckhaus Deringer LLP; Menachem Kaplan – Freshfields Bruckhaus Deringer LLP; Omar Pringle – Freshfields Bruckhaus Deringer LLP;

Law Firms: Freshfields Bruckhaus Deringer LLP;

Clients: KLX Inc.; KLX Energy Services Holdings, Inc.;