Cactus has completed its previously announced acquisition of a majority stake in Baker Hughes’ surface pressure control (SPC) business. Based in the US, Cactus focuses on supplying pressure control equipment for the oil and gas industry. Baker Hughes’ SPC business deals in the design, manufacture and servicing of wellheads and production tree equipment, mostly for international markets. Following the deal, Cactus currently holds 65% equity in the SPC joint venture (JV), with Baker Hughes maintaining a ...