Forum Energy Technologies Acquires Multilift

HOUSTON–(BUSINESS WIRE)–Forum Energy Technologies, Inc. (NYSE: FET) announced today that it
acquired the stock of Multilift from Pelican Energy Partners, a
Houston-based oilfield services focused private equity fund, and
management. Based in Houston, Texas, Multilift manufactures the patented
SandGuard™ and the Cyclone™ completion tools. These innovative products
extend the useful life of an electrical submersible pump (ESP) by
protecting it against falling sand and other solids after shutdown.

Prady Iyyanki, Forum’s President and Chief Executive Officer, commented,
“The Multilift acquisition fits with our strategy of increasing our
product offering in the artificial lift value chain to completions
customers. We intend to leverage Forum’s distribution system to rapidly
grow Multilift’s sales with additional customers and through geographic
expansion. We welcome the Multilift employees to Forum.”

Forum Energy Technologies is a global oilfield products company,
serving the drilling, subsea, completions, production and infrastructure
sectors of the oil and natural gas industry. The Company’s products
include highly engineered capital equipment as well as products that are
consumed in the drilling, well construction, production and
transportation of oil and natural gas. Forum is headquartered
in Houston, TX with manufacturing and distribution facilities
strategically located around the globe. For more information, please
visit www.f-e-t.com.

Contacts

Forum Energy Technologies, Inc.
Investor Contact
Mark Traylor,
281-368-1108
Vice President, Investor Relations
[email protected]
or
Media
Contact
Donna Smith, 281-949-2514
Director, Marketing &
Communications
[email protected]