SCF Partners Inc. announced its acquisition of Entegris Inc.’s pipeline and industrial materials business (PIM) on March 4. A leading supplier of advanced materials and process solutions for high-technology industries, Entegris’ PIM operations consists of three businesses: Flowchem, Val-Tex and Sealweld.
Houston-based Flowchem was founded in 2001 and is a supplier of drag reducing agents, which optimize pipeline flow and increase throughput capacity. Drag reducing agents help infrastructure operators reduce energy consumed during pumping, reducing both costs and associated greenhouse gas emissions.
Val-Tex and Sealweld, founded in 1962 and 1969 respectively, provide valve maintenance products, such as sealants, lubricants, fittings and injection equipment, as well as maintenance and emergency leak repair services.
“Flowchem, Val-Tex, and Sealweld have built customer trust over decades of delivering specialized products and services that make infrastructure operations safer and more efficient, while reducing both costs and emissions,” Dan West, director at SCF Partners, said in a press release. “Aging midstream infrastructure and rising utilization further augment the need for these solutions. Together with the leadership team, we look forward to creating value in the company’s next chapter of growth.”
A dollar amount for the transactions was not disclosed.
Recommended Reading
Barnett & Beyond: Marathon, Oxy, Peers Testing Deeper Permian Zones
2024-04-29 - Marathon Oil, Occidental, Continental Resources and others are reaching under the Permian’s popular benches for new drilling locations. Analysts think there are areas of the basin where the Permian’s deeper zones can compete for capital.
Initiative Acquires Equity in Renewable Firm ArtIn Energy
2024-04-28 - Initiative Equity Partners is taking steps to accelerate deployment of renewable energy globally, including in North America.
Keeping it Simple: Antero Stays on Profitable Course in 1Q
2024-04-28 - Bucking trend, Antero Resources posted a slight increase in natural gas production as other companies curtailed production.
NOV Announces $1B Repurchase Program, Ups Dividend
2024-04-28 - NOV expects to increase its quarterly cash dividend on its common stock by 50% to $0.075 per share from $0.05 per share.
Repsol to Drop Marcellus Rig in June
2024-04-28 - Spain’s Repsol plans to drop its Marcellus Shale rig in June and reduce capex in the play due to the current U.S. gas price environment, CEO Josu Jon Imaz told analysts during a quarterly webcast.