HOUSTON — Flotek Industries is to acquire International Polymerics, Inc. (IPI), and affiliates, for a consideration consisting of cash and Flotek common stock.
Founded in 2004, IPI is based in Dalton, Ga., with a distribution center in Monahans, Texas, and is one of the largest domestic suppliers of natural polymers, including guar, to the oil and gas industry. The company was founded by Donald Bramblett, a leading expert on natural polymers and the development of guar applications in the energy and textile trades. IPI’s proprietary guar processing systems have provided high-quality guar powder and slurry to oil and gas clients for nearly a decade in nearly every producing basin in the U.S.
“The IPI team has worked hard over the past twelve years to build a resilient business focused on providing best-in-class polymers to the energy and textile industries,” said John Chisholm, Flotek’s president, chairman and CEO. “Donald Bramblett is widely regarded as one of the world’s top experts on natural polymers and guar, adding more firepower to Flotek’s leading oilfield chemistry research team. And, the addition of polymer chemistry and delivery systems to Flotek’s stable of oilfield chemistry allows us to further accelerate our Prescriptive Chemistry Management efforts, focused on providing total chemistry solutions for our clients’ wells.”
Chisholm added, “IPI has high strategic value for Flotek in both the application of polymer chemistry to new, value-added oilfield chemistries as well for its core guar powder and slurries which serve as key delivery media for Flotek’s proprietary chemistries, such as PrF and CnF completion chemistries. This acquisition should allow us to accelerate our fluid systems development while adding-value and increasing margins in IPI’s core guar business using our direct distribution network.”
Bramblett will remain the president of IPI and will report to Josh Snively, executive V.P. of Flotek, who oversees the company’s chemistry manufacturing efforts.
石油圈
