U.S. marine transportation and diesel engine services provider, Kirby, will acquire United Holdings. Kirby will pay around $270 million in cash for the Oklahoma-based engine and transmission related products maker and manufacturer of oilfield service equipments. The Texas-based company plans to fund the acquisition using existing cash and revolving credit facility. The transaction is expected to be completed in April this year, subject to regulatory approvals.

Click here for the release from PR Newswire.