TechnipFMC plc announced an agreement to sell the Company’s Measurement Solutions business to One Equity Partners for $205 million in cash, subject to customary adjustments at the closing of the transaction.

As part of the Surface Technologies segment, the Measurement Solutions business encompasses terminal management solutions and metering products and systems, and includes engineering and manufacturing locations in North America and Europe.

Doug Pferdehirt, Chair and Chief Executive Officer at TechnipFMC, commented: “This transaction reflects TechnipFMC’s broader portfolio strategy to further focus on our core products and market-leading technologies, as well as integrated solutions and services for our clients.”

The transaction is expected to close during the first half of 2024 and is subject to customary closing conditions. The Company will work closely with One Equity Partners to ensure a smooth transition of business activities.

About TechnipFMC

TechnipFMC (NYSE: FTI) is a leading technology provider to the traditional and new energy industries, delivering fully integrated projects, products, and services.

With our proprietary technologies and comprehensive solutions, we are transforming our clients’ project economics, helping them unlock new possibilities to develop energy resources while reducing carbon intensity and supporting their energy transition ambitions.

Organized in two business segments — Subsea and Surface Technologies — we will continue to advance the industry with our pioneering integrated ecosystems (such as iEPCI™, iFEED™ and iComplete™), technology leadership and digital innovation.