TechnipFMC 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.