Infineum announced yesterday it will acquire Billerica, Massachusetts-based Entegris’ Pipeline and Industrial Materials business as part of its transformational growth strategy. The business includes drag reducing agents for pipeline operations under the Flowchem brand and industrial lubricants under the Val-Tex and Sealweld brands.
Subject to regulatory approvals and closing conditions, the transaction is expected to close in the fourth quarter.
Entegris’ Pipeline and Industrial Materials business is part of its specialty chemicals and engineered materials division. “This acquisition has a strong strategic fit with the core capabilities of Infineum and is a significant step in Infineum’s transformation into a sustainable world-class specialty chemicals company,” Infineum CEO Trevor Russell said in a news release.
Waller, Texas-based Flowchem manufactures drag reducing agents, or DRA, for pipeline operations. These include DRAs for light, medium or heavy crude oil, as well as DRAs engineered for refined fuel products and custom-engineered DRA solutions. Flowchem serves more than 50 pipeline operators worldwide, as well as midstream service providers and distributors.
“Drag reducing agents is an exciting global growth segment, and this addition will expand Infineum’s portfolio of specialty chemicals and deliver long-term value to our shareholders,” Shee Young Kim, Infineum’s director of global business growth, said.
Located in Houston, Texas, Val-Tex manufactures and distributes industrial sealants, lubricants and greases, as well as related products, such as lubrication equipment and fittings. The company primarily serves customers in oil and gas storage, pipeline and gas distribution.
Based in Canada in Calgary, Alberta, with additional facilities in the United States and the United Arab Emirates, Sealweld is a global supplier of products and services for industrial valve and actuator maintenance, including synthetic valve lubricants, sealants, cleaners, valve fittings, tools and equipment. Sealweld also provides routine and emergency valve maintenance services and technician training for pipeline operators.