<SEC-DOCUMENT>0001193125-16-733278.txt : 20161007
<SEC-HEADER>0001193125-16-733278.hdr.sgml : 20161007
<ACCEPTANCE-DATETIME>20161007075002
ACCESSION NUMBER:		0001193125-16-733278
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20161006
ITEM INFORMATION:		Entry into a Material Definitive Agreement
ITEM INFORMATION:		Unregistered Sales of Equity Securities
ITEM INFORMATION:		Other Events
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20161007
DATE AS OF CHANGE:		20161007

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Frank's International N.V.
		CENTRAL INDEX KEY:			0001575828
		STANDARD INDUSTRIAL CLASSIFICATION:	OIL, GAS FIELD SERVICES, NBC [1389]
		IRS NUMBER:				981107145
		STATE OF INCORPORATION:			P7
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-36053
		FILM NUMBER:		161926100

	BUSINESS ADDRESS:	
		STREET 1:		MASTENMAKERSWEG 1
		CITY:			DEN HELDER
		STATE:			P7
		ZIP:			1786 PB
		BUSINESS PHONE:		31223670000

	MAIL ADDRESS:	
		STREET 1:		POSTBUS 9182
		CITY:			AMSTERDAM
		STATE:			P7
		ZIP:			1006 AD
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>d145556d8k.htm
<DESCRIPTION>8-K
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<TITLE>8-K</TITLE>
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 <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P>
<P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="margin-top:4pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>UNITED STATES </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>SECURITIES AND EXCHANGE COMMISSION </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Washington, D.C. 20549 </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>FORM 8-K
</B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center> <P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>CURRENT REPORT </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Pursuant
to Section 13 or 15(d) </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>of the Securities Exchange Act of 1934 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>October 6, 2016 </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Date of
Report (Date of earliest event reported) </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:24pt; font-family:Times New Roman" ALIGN="center"><B>Frank&#146;s
International N.V. </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>(Exact name of Registrant as specified in its charter) </B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center> <P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top" ALIGN="center"><B>The Netherlands</B></TD>
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<TD VALIGN="top" ALIGN="center"><B>001-36053</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B>98-1107145</B></TD></TR>
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<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(State or other jurisdiction</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>of incorporation)</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Commission</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>File Number)</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(IRS Employer</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Identification Number)</B></P></TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Mastenmakersweg 1 </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>1786
PB Den Helder, The Netherlands </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Address of principal executive offices) </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>+31&nbsp;(0)22 367 0000 </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Registrant&#146;s telephone number, including area code) </B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center> <P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the
following provisions: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left">&#9744;</TD>
<TD ALIGN="left" VALIGN="top">Written communications pursuant to Rule&nbsp;425 under the Securities Act (17 CFR 230.425) </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top">Soliciting material pursuant to Rule&nbsp;14a-12 under the Exchange Act (17 CFR 240.14a-12) </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top">Pre-commencement communications pursuant to Rule&nbsp;14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left">&#9744;</TD>
<TD ALIGN="left" VALIGN="top">Pre-commencement communications pursuant to Rule&nbsp;13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) </TD></TR></TABLE> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Item&nbsp;1.01 Entry into a Material Definitive Agreement. </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">On October&nbsp;6, 2016, Frank&#146;s International N.V. (the &#147;Company&#148;) announced that it has entered into a definitive merger
agreement (&#147;Merger Agreement&#148;) to acquire Blackhawk Group Holdings, Inc. (&#147;Blackhawk&#148;). Blackhawk is the ultimate parent of Blackhawk Specialty Tools LLC, a leading provider of well construction and well intervention services and
products. Certain investment funds affiliated with Bain Capital Partners LLC (collectively &#147;Bain Capital&#148;) currently own approximately 70% of the capital stock of Blackhawk. Concurrently with the execution and delivery of the Merger
Agreement, Bain Capital and other stockholders of Blackhawk delivered a written consent adopting the Merger Agreement with respect to the shares of Blackhawk capital stock owned by them. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Pursuant to the Merger Agreement, by and among the Company, FI Tools Holdings, LLC, a newly-formed subsidiary of the Company (&#147;Merger
Sub&#148;), Blackhawk and Bain Capital Private Equity, LP, solely in its capacity as stakeholder representative, Merger Sub will merge with and into Blackhawk, with Blackhawk surviving the Merger as a wholly-owned subsidiary of the Company. The
merger consideration comprises a combination of approximately $150 million of cash on hand and approximately 12.8&nbsp;million shares of the Company&#146;s common stock (&#147;Common Stock&#148;), on a cash-free, debt-free basis (with approximately
$80.0 million of Blackhawk debt being repaid at closing with proceeds from the transaction). The maximum number of shares of Common Stock to be issued upon the consummation of the Merger will be reduced or otherwise adjusted based on (i)&nbsp;the
amount of cash paid to non-accredited investors and certain other Blackhawk stockholders (who will receive cash in lieu of Common Stock) and the holders of in-the-money options to acquire Blackhawk common stock (which will be cancelled at the
effective time of the Merger) and (ii)&nbsp;post-closing working capital adjustments. It is anticipated that the closing of the transaction will occur during the fourth quarter of 2016. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">If the closing occurs, the Company will place certain of the shares of Common Stock comprising the equity consideration in escrow as partial
security for Blackhawk&#146;s indemnity obligations under the Merger Agreement, which include indemnities for the benefit of the Company for breaches of Blackhawk&#146;s representations, warranties and covenants and certain other matters (subject to
certain limitations). The Merger Agreement contains caps on certain losses arising under the Merger Agreement of up to approximately 17% of the aggregate transaction value. Such caps do not apply to fraud or intentional misconduct. Portions of the
escrow will also apply to post-closing working capital adjustments. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The completion of the Merger is subject to a number of closing
conditions, including among others, (i)&nbsp;the expiration or termination of applicable U.S. anti-trust laws and the waiting period and receipt of Brazilian merger control approvals, (ii)&nbsp;subject to certain exceptions, the accuracy of the
representations and warranties and material compliance with covenants, (iii)&nbsp;the absence of any event, circumstance or change that would have a material adverse effect on Blackhawk and (iv)&nbsp;delivery of various closing documentation. The
Merger Agreement also contains certain termination rights for both the Company and Blackhawk, including a right to terminate if the Merger is not consummated by December&nbsp;5, 2016 (subject to certain exceptions). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">In connection with the delivery of shares of Common Stock at closing, the Company will enter into a Registration Rights Agreement with Bain
Capital and certain other stockholders of Blackhawk, pursuant to which, among other things, the Company will register the resale of the shares of Common Stock issued to such stockholders of Blackhawk. In addition, Bain Capital will have certain
demand registration rights with respect to underwritten offerings that may be undertaken by Bain Capital following the closing. In connection with the grant of these demand rights, the Company has agreed to seek waivers from certain stockholders who
were previously granted certain piggyback registration rights pursuant to that certain registration rights agreement, dated August&nbsp;14, 2013. If the Company is unable to obtain the requisite approvals for such waiver and the holders of the
pre-existing piggyback registration rights exercise those rights in respect of an underwritten offering by Bain Capital, the Company has agreed to either (i)&nbsp;repurchase a number of shares of Common Stock from Bain Capital equal to $50M less any
shares actually sold by Bain Capital in its underwritten offering (such repurchase may be funded through a primary issuance of shares of Common Stock by the Company, in its discretion) or (ii)&nbsp;purchase such number of shares of Common Stock from
the pre-existing holders of the piggyback registration rights such that Bain Capital would no longer be required to reduce the number of shares it proposed to include in its underwritten offering below $50M. All expenses incident to such
registrations will be borne by the Company. </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Merger Agreement and related transaction documents contain representations, warranties,
covenants and conditions customary for a transaction of this nature. The representations and warranties set forth in the Merger Agreement and related transaction documents were made by the parties to each other as of specific dates and to evidence
their agreement on various issues, and were made solely for purposes of the Merger and may be subject to important qualifications and limitations or other factors agreed to by the parties in connection with negotiating the terms of the Merger. Based
on the foregoing, you should not rely on the representations, warranties and disclosures included in the Merger Agreement or related transaction documents as statements of fact. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Item&nbsp;3.02 Unregistered Sales of Equity Securities. </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The issuance of the shares of Common Stock is expected to be exempt from registration as a private placement under Section&nbsp;4(a)(2) of the
Securities Act of 1933, as amended, and Rule 506 promulgated thereunder, among other exemptions. The Company has not engaged in general solicitation or advertising with regard to the issuance and sale of shares of Common Stock to be issued in the
Merger. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The information disclosed in Item&nbsp;1.01 of this Current Report on Form 8-K is incorporated into this Item&nbsp;3.02 by
reference and the disclosure in this Item&nbsp;3.02 is qualified by reference to the information set forth in Item&nbsp;1.01 of this Current Report on Form 8-K. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Item&nbsp;8.01 Other Events </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">On
October&nbsp;7, 2016, the Company issued a press release announcing the execution of the Merger Agreement. The press release is attached as Exhibit 99.1 and is incorporated by reference herein. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Forward-Looking Statements </I></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">This
Current Report on Form 8-K contains forward-looking statements within the meaning of Section&nbsp;27A of the Securities Act and Section&nbsp;21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical
facts, included in this Current Report on Form 8-K that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future are forward-looking statements. Without limiting the generality of
the foregoing, forward-looking statements contained in this Current Report on Form 8-K specifically include the following risks: an inability to satisfy all of the conditions to closing set forth in the Merger Agreement; an inability to obtain
required regulatory approvals for the Merger, on the expected timing or at all; an inability to realize expected benefits from the Merger or the occurrence of difficulties in connection with the Merger; the risk that the Merger results in the
Company incurring unexpected costs, liabilities or delays; the risk that Blackhawk&#146;s business may not be successfully integrated with the Company&#146;s following the closing; and the risk that disruption from the Merger may adversely affect
the Company&#146;s and Blackhawk&#146;s business and relationships with their customers, suppliers and employees. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Forward-looking
statements are based on certain assumptions made by the Company based on management&#146;s experience, expectations and perception of historical trends, current conditions, anticipated future developments and other factors believed to be
appropriate. Forward-looking statements are not guarantees of performance. Although the Company believes the expectations reflected in its forward-looking statements are reasonable and are based on reasonable assumptions, no assurance can be given
that these assumptions are accurate or that any of these expectations will be achieved (in full or at all) or will prove to have been correct. Moreover, such statements are subject to a number of assumptions, risks and uncertainties, many of which
are beyond the control of the Company, which may cause actual results to differ materially from those implied or expressed by the forward-looking statements. These include the factors discussed or referenced in the &#147;Risk Factors&#148; section
of the Company&#146;s Annual Report on Form 10-K for the year ended December&nbsp;31, 2015 that has been filed with the SEC and in the Company&#146;s Quarterly Report on Form 10-Q for the quarter ended June&nbsp;30, 2016 that has been filed with the
SEC. Any forward-looking statement speaks only as of the date on which such statement is made, and the Company undertakes no obligation to correct or update any forward-looking statement, whether as a result of new information, future events or
otherwise, except as required by applicable law, and we caution you not to rely on them unduly. </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Item&nbsp;9.01 Financial Statements and Exhibits. </B></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left">(d)</TD>
<TD ALIGN="left" VALIGN="top">Exhibits </TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="bottom" NOWRAP ALIGN="center"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-bottom:1.00pt solid #000000; width:28.45pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Exhibit<BR>Number</B></P></TD>
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<TD VALIGN="top" NOWRAP>99.1</TD>
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<TD VALIGN="top">Press release dated October 7, 2016.</TD></TR>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>SIGNATURES </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="bottom" COLSPAN="3"><B>Frank&#146;s International N.V.</B></TD></TR>
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<TD VALIGN="top">Date: October&nbsp;7, 2016</TD>
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<TD VALIGN="bottom">By:</TD>
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<TD VALIGN="bottom"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Alejandro Cestero</P></TD></TR>
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<TD VALIGN="bottom">Name: Alejandro Cestero</TD></TR>
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<TD VALIGN="bottom">&nbsp;</TD>
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<TD VALIGN="bottom">Senior Vice President, General Counsel and Secretary</TD></TR>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><U>EXHIBIT INDEX </U></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top" NOWRAP>99.1</TD>
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<TD VALIGN="top">Press release dated October 7, 2016.</TD></TR>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">Exhibit 99.1 </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman"><B>Frank&#146;s International Agrees to Acquire Blackhawk Specialty Tools, Adding Specialty Cementing and Well Intervention Services and Products to Business
Line </B></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="2%" VALIGN="top" ALIGN="left"><B>&#149;</B></TD>
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<TD ALIGN="left" VALIGN="top"><B>Diversifies tubular running services offering with complementary technology-driven specialty cementing tools </B></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="2%" VALIGN="top" ALIGN="left"><B>&#149;</B></TD>
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<TD ALIGN="left" VALIGN="top"><B>High revenue growth potential with expansion through Frank&#146;s global footprint and applications for onshore and offshore well construction </B></TD></TR></TABLE>
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<TD WIDTH="2%" VALIGN="top" ALIGN="left"><B>&#149;</B></TD>
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<TD ALIGN="left" VALIGN="top"><B>Merger consideration funded with cash on hand and Frank&#146;s equity </B></TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">HOUSTON, October 7, 2016 &#150;
Frank&#146;s International N.V. (&#147;Frank&#146;s&#148;, NYSE: FI) announced today that it has entered into a definitive merger agreement to acquire Blackhawk Group Holdings, Inc., the ultimate parent company of Blackhawk Specialty Tools LLC
(&#147;Blackhawk&#148;), a leading provider of well construction and well intervention services and products. Blackhawk is being purchased from Bain Capital Private Equity, a leading global private investment firm which acquired the business
together with management in 2013. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Frank&#146;s expects that Blackhawk&#146;s specialty cementation tools will augment its tubular running services
business by providing Frank&#146;s the opportunity to diversify its offerings and emerge as a leader in a new business line and a significantly larger addressable market.&nbsp;In addition to what Frank&#146;s believes is a line of well-regarded,
market leading, technically differentiated specialty cementation tools, Blackhawk also provides well intervention products through its line of brute packers and related products, and is continuing its development of products for onshore and offshore
applications. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Gary Luquette, Frank&#146;s President and Chief Executive Officer, commented, &#147;Similar to Frank&#146;s, Blackhawk has a reputation for
combining exceptional service with an innovative portfolio of technology that delivers consistent value to customers. Together we will continue to offer the same reliable service customers expect, while furthering customer relationships with new
products and services across the Frank&#146;s global footprint.&nbsp;Joining Blackhawk&#146;s cementing tool expertise with Frank&#146;s global tubular running services franchise will allow us to offer customers worldwide a more integrated suite of
best-in-class products and services to address their well construction needs across all environments from land to shelf to deepwater.&#148; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Billy Brown,
Blackhawk&#146;s Chief Executive Officer and a founder of the company, stated, &#147;Joining the Frank&#146;s global family is the next step in continuing the expansion of Blackhawk&#146;s industry leading specialty products and equipment. Our team
is proud of the progress we have made in developing innovative products and strong customer relationships through quality and reliable service, and we appreciate the support we have enjoyed from our partners at Bain Capital.&nbsp;Combining
Frank&#146;s and Blackhawk is the right strategic move at the right time, providing customers the same exceptional service with a broader platform to accelerate future growth.&#148; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">1 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Todd Cook, a Managing Director at Bain Capital Private Equity, said, &#147;We have been pleased to work with and
support the experienced team at Blackhawk in executing a focused and durable strategy in a demanding, sophisticated market.&nbsp;We look forward to participating in the significant growth we believe will flow from combining these two best in class
service providers.&#148; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The merger consideration comprises a combination of approximately $150 million of cash on hand and approximately 12.8 million
shares of Frank&#146;s common stock, on a cash-free, debt-free basis (with approximately $80 million of Blackhawk debt being repaid at closing with proceeds from the transaction), subject to adjustment.&nbsp;Based on the Frank&#146;s closing price
on Thursday, October 6, 2016 the transaction is valued at approximately $321 million. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Frank&#146;s is focused on driving revenue synergies, and expects
the acquired products and services to benefit from Frank&#146;s global presence, operating excellence and strong balance sheet, significantly enhancing the growth potential of the business. Additionally, over time, Frank&#146;s expects to realize
the benefits of increased cost efficiency by providing a broader set of product offerings through its combined global infrastructure and optimizing supply chain operations to take advantage of the expanded business. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The transaction is subject to regulatory approvals and other customary closing conditions. It is anticipated that the closing of the transaction will occur
during the fourth quarter of 2016. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Morgan Stanley &amp; Co. LLC served as Frank&#146;s exclusive financial advisor on the transaction, and legal advice
was provided by Baker &amp; McKenzie LLP. Blackhawk was advised by Simmons &amp; Company International, the energy specialist unit of Piper Jaffray, and legal advice was provided by Ropes &amp; Gray LLP.</P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Frank&#146;s will host a conference call to discuss the merger on Friday, October 7, 2016 at 9:00 a.m. Central Time (10:00&nbsp;a.m. Eastern Time).
Participants may join the conference call by dialing (888) 771-4371 or (847) 585-4405. The conference access code is 43569843. The webcast and presentation materials will be accessible on the Investor Relations section of the Company&#146;s website,
<U>www.franksinternational.com</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">An audio replay of the conference call will be available approximately two hours after the conclusion of the call and
will remain available for seven days. It can be accessed by dialing (888) 843-7419 or (630) 652-3042. The conference call replay access code is 43569843. The replay will also be available in the Investor Relations section of the Frank&#146;s website
approximately two hours after the conclusion of the call and will remain available for approximately 90 days. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">About Frank&#146;s International </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Frank&#146;s International N.V. is a global oil services company that provides a broad and comprehensive range of highly engineered tubular services to
leading exploration and production companies in both offshore and onshore environments, with a focus on complex and technically demanding wells. Founded in 1938, Frank&#146;s has approximately 3,000 employees and provides services in over 60
countries on six continents.&nbsp;Frank&#146;s common stock is traded on the NYSE under the symbol &#147;FI.&#148; Additional information is available on Frank&#146;s website, <U>www.franksinternational.com</U>. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">2 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">About Blackhawk Specialty Tools </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Blackhawk Specialty Tools is a leading supplier of engineered well construction and well intervention solutions providing premium automated top drive cement
heads and related equipment, cementation products, well intervention tools and top-quality service to the oil and gas industry. Founded in 2008 and headquartered in Houston, Blackhawk operates in the U.S. and Mexican Gulf of Mexico, onshore U.S. and
other select international locations. Blackhawk&#146;s specialty product development for the oil and gas industry helps companies save valuable rig time, operate in a safer manner, reduce derrick trips and enhance cementing operations. For more
information about Blackhawk, visit <U>www.BlackhawkST.com</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">About Bain Capital Private Equity </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Bain Capital Private Equity (www.baincapitalprivateequity.com) has partnered closely with management teams to provide the strategic resources that build great
companies and help them thrive since our founding in 1984. Our team of more than 400 investment professionals creates value for our portfolio companies through our global platform and depth of expertise in key vertical industries including
industrials, consumer/retail, financial and business services, healthcare, and technology, media and telecommunications. In addition to private equity, Bain Capital invests across asset classes including credit, public equity and venture capital,
and leverages the firm&#146;s shared platform to capture opportunities in strategic areas of focus. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>Forward</U></B><B><I>-</I></B><B><U>Looking
Statements</U> </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act and Section&nbsp;21E of
the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical facts, included in this press release that address activities, events or developments that Frank&#146;s expects, believes or anticipates will or may
occur in the future are forward-looking statements.&nbsp;Without limiting the generality of the foregoing, forward-looking statements contained in this press release specifically include the following risks: an inability to satisfy all of the
conditions to closing set forth in the merger agreement; an inability to obtain required regulatory approvals for the merger, on the expected timing or at all; an inability to realize expected benefits from the merger or the occurrence of
difficulties in connection with the merger; the risk that the merger results in Frank&#146;s incurring unexpected costs, liabilities or delays; the risk that Blackhawk&#146;s business may not be successfully integrated with Frank&#146;s following
the closing; and the risk that disruption from the merger may adversely affect Frank&#146;s and Blackhawk&#146;s business and relationships with their customers, suppliers and employees.</P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Forward-looking statements are based on certain assumptions made by Frank&#146;s based on management&#146;s experience, expectations and perception of
historical trends, current conditions, anticipated future developments and other factors believed to be appropriate. Forward-looking statements are not guarantees of performance. Although Frank&#146;s believes the expectations reflected in its
forward-looking </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">3 </P>


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statements are reasonable and are based on reasonable assumptions, no assurance can be given that these assumptions are accurate or that any of these expectations will be achieved (in full or at
all) or will prove to have been correct. Moreover, such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of Frank&#146;s, which may cause actual results to differ materially from those
implied or expressed by the forward-looking statements. These include the factors discussed or referenced in the &#147;Risk Factors&#148; section of Frank&#146;s Annual Report on Form 10-K for the year ended December&nbsp;31, 2015 that has been
filed with the SEC and in Frank&#146;s Quarterly Report on Form&nbsp;10-Q for the quarter ended June&nbsp;30, 2016 that has been filed with the SEC. Any forward-looking statement speaks only as of the date on which such statement is made, and
Frank&#146;s undertakes no obligation to correct or update any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by applicable law, and we caution you not to rely on them unduly. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Contacts: </B> </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Blake Holcomb &#150; Director, Investor
Relations </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>blake.holcomb@franksintl.com</U> </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">713-231-2463
</P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Karen Allen &#150; Director, Communications and External Affairs </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>karen.allen@franksintl.com</U> </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">713-358-7325 </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">4 </P>

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