PES - KLX Energy Services: A Dreamed Spin-Off Opportunity
1. Introduction
In December 2017 KLX Inc. (KLXI) announced that its board of directors had initiated a formal process to explore strategic alternatives focused on maximizing shareholder value. That process led to an agreement to sell the core business, Aerospace Solutions Group "ASG" to Boeing (BA) and to spin-off the Energy Services Group "ESG".
KLX Energy Services Holdings Inc (KLXE) is the spin-off that emerged from the separation of the Energy Services Group. It is trading since August 2018 as an independent publicly-traded company. It provides oilfield services "OFS"