Solvay S.A. has signed an agreement to acquire privately-held Chemlogics for a total cash consideration of $1.345 billion.
Founded in 2002, Chemlogics reported last-twelve-month sales of around $500 million and has 277 employees. The company serves the needs of the oil-and-gas industry’s stimulation and cementing segments. All its assets are located in the U.S. and include three manufacturing sites with annual capacity exceeding 300,000 t, eight formulation centers and six research and technical facilities.
Chemlogics’s expertise in friction reducers, non-emulsifiers and extraction technologies perfectly fit with Solvay Novecare’s know-how in surfactants, natural polymers and eco-friendly solvents. Together, Novecare and Chemlogics will have a significant share of the dynamic $8-billion U.S. oil-and-gas exploration and production market.