Brenntag Acquires Chem Tech Services
The acquisition builds on Brenntag's significant market position in oil and gas and serves the growing energy market in North America.
Brenntag announced the acquisition of Chem Tech Services, a leading provider of production chemicals with proprietary formulations for the energy sector in West Texas and New Mexico, the largest energy producing region in North America. The company will be integrated into Coastal Chemical, a Brenntag platform focused on the upstream, midstream and downstream segments of the oil and gas industry.
Scott Leibowitz, President of Brenntag Essentials North America, commented: "Chem Tech’s expertise and network are a welcome addition to Brenntag’s Energy Services business in North America, adding key capabilities to our resilient market offerings in the energy sector and strengthening our market presence in a region that is critical to global energy supply. The acquisition represents a strategic opportunity to strengthen Coastal Chemical’s unmatched position as a dedicated, integrated energy service platform that efficiently, safely, and reliably support our customers in the oil and gas industry. I look forward to welcoming our new colleagues from Chem Tech to the Brenntag family.”
Derek Waters, Co-Owner and President of Chem Tech, added: “Brenntag presents a perfect new home for Chem Tech as we share a similar vision: to be a leader in the oilfield chemical market that provides exceptional customer service and a great culture for employment. This new and exciting partnership will lead to great opportunities and will accelerate our joint ambition of becoming the best chemical service company in the Permian Basin and beyond.”
Chem Tech Services was founded in 1980 in Levelland, Texas, USA. The company provides professional chemical solutions for oil fields in Texas and New Mexico. The acquired company generated sales of over $80 million in the past 12 months.
The transaction was signed and closed simultaneously. The financial details of the acquisition will not be disclosed.
