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People & Business :: People/Executives
Innospec acquires Louisiana oil-field service company
2:10 PM MST | January 7, 2013 | Lindsay Frost
Innospec has acquired private oil-field company Strata Control Services (Crowley, LA), a supplier of mud and fluid loss solutions to oil and gas drilling operations. The transaction was completed on 24 December and the purchase price was about 6-times 2012 Ebitda. The company had sales of about $20 million in 2012 and has 2 manufacturing plants, at Houston and Crowley, LA. "I am delighted that we have taken this important step in acquiring to build out our presence in this growing market,” says Patrick Williams, president and CEO of Innospec...
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