Ranger Energy Services to buy STEP's U.S. coiled tubing assets for $27.5 million
On August 31, 2026, Ranger Energy Services agreed to acquire certain U.S. coiled tubing assets from STEP Energy Services for approximately $27.5 million, consisting of $22.5 million in cash and $5 million in Class A Common Stock. The company expects the deal to add $80 million to $90 million of revenue and more than $10 million of EBITDA in 2027, but 2026 cash flows are expected to be lower because of about $10 million of first-quarter post-close borrowings and the funding is through revolver borrowings.
Key points
- Consideration is about $27.5 million: $22.5 million in cash and $5 million in Class A Common Stock, priced on a 30-trading-day volume weighted average price before closing.
- Assets include 13 full coiled tubing spreads and five facilities, and Ranger expects to hire about 220 coiled tubing professionals and support staff.
- Expected 2027 contribution is $80 million to $90 million of revenue and more than $10 million of EBITDA, including at least $2.5 million of first-year synergies.
- Closing is expected on or about September 11, 2026, subject to customary conditions and third-party consents; post-close borrowings are expected to be about $30 million.
The filing
Written by AI on Nov 9, 2026, 8:53 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on August 31, 2026.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.