Clariant (Muttenz, Switzerland: www.clariant.com) today announces two acquisitions in the oilfield-production-chemicals business. After closing, the agreed purchases of Kel-Tech Inc. (Midland, Tex.) and X-Chem LLC (Irving, Tex.) add approx. $200 million of sales, as well as personnel, technology and expertise to its existing activities in North America and accelerates the growth of its Business Unit Oil & Mining Services (OMS) as a leading provider of oilfield production chemicals in North America.
Clariant will leverage the new companies’ brand and innovation to better meet market needs and expand market presence. The effective closing date of both acquisitions is October 1, 2016 and they are financed from cash at hand. All parties involved have agreed to not disclose any further financial terms.
The purchase of Kel-Tech from current owners Arsenal Capital Partners has been agreed and received regulatory clearance. Kel-Tech is a manufacturer and supplier of specialty chemical products for production, field stimulation, and drilling applications throughout onshore U.S.
In addition, Clariant has agreed to acquire X-Chem from current owner NCH Corp. This acquisition has also received regulatory clearance. X-Chem’s operations are focused on land and offshore U.S., where it provides specialty oilfield chemicals for the production, completion and stimulation of oil wells, gas wells and pipelines.