Cactus completes acquisition of 65% stake in Baker Hughes surface pressure control unit
On January 2, 2026, Cactus, Inc. announced it completed its acquisition of a 65% controlling interest in Baker Hughes Company's Surface Pressure Control business, through a joint venture with Baker Hughes' indirect subsidiary. The filing sets an exit option from the second anniversary of closing, with a price based on six times Adjusted EBITDA, capped at a $660 million maximum valuation and a $530 million minimum if Cactus elects to buy. Cactus said formal financial guidance for the business will come later in the first quarter of 2026, so its effect on results is not yet quantified.
Key points
- Closing announced January 2, 2026; Cactus holds a 65% controlling interest in the Surface Pressure Control business
- Exit option begins at the second anniversary of closing; exit price is six times Adjusted EBITDA, with a $660 million maximum and $530 million minimum valuation if Cactus elects to buy
- Formal financial guidance for the business to be provided later in the first quarter of 2026
- Historical and pro forma financial statements to be filed by amendment within 71 days after the filing deadline
The filing
Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 2:07 AM ET, from the text of the filing and its press-release exhibits 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 January 02, 2026.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.