Apollo acquires Halliburton's UK business (2021)
Apollo Global Management made a major acquisition in the energy services space, buying specific Halliburton business units in a deal worth about $5.9 billion. The transaction was notable for combining a PE buyout with a strategic carve-out from a large public company, and it reflected the growing appetite of mega PE firms for large, complex, sector-specific deals. It was part of Apollo's broader push into energy infrastructure and services.
Why it mattered
The transaction demonstrated that PE could acquire large, established industrial and energy services businesses and operate them at scale. It showed sponsors moving into complex, capital intensive sectors that had previously been the domain of public companies and strategic buyers. It also highlighted the growing role of PE in the global energy and services sector.