M&A Deal Summary

Flotek Acquires Florida Chemical

On May 10, 2013, Flotek acquired chemicals company Florida Chemical for 50M USD

Acquisition Highlights
  • This is Flotek’s 1st transaction in the Chemicals sector.
  • This is Flotek’s largest (disclosed) transaction.
  • This is Flotek’s 2nd transaction in the United States.
  • This is Flotek’s 1st transaction in Florida.
Investment Fate
  • Florida Chemical was divested to a consortium of strategic buyers in 2019.

M&A Deal Summary
Date 2013-05-10
Target Florida Chemical
Sector Chemicals
Buyer(s) Flotek
Deal Type Add-on Acquisition
Deal Value 50M USD
Advisor(s) Periculum Capital Company LLC (Financial)
Lowndes (Legal)

Target

Florida Chemical

Winter Haven, Florida, United States
Florida Chemical Co. Inc. produces a wide range of high-value citrus flavor ingredients, specialty terpenes, and formulated products primarily for the flavor, fragrance and consumer products markets. Their innovative, high-quality on-trend products match consumer preferences for a natural, clean label and reduced sugar foods and beverages.

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Buyer(S) 1

Buyer

Flotek

Houston, Texas, United States
Category Company
Founded 1985
Sector Energy Services and Equipment
Employees131
Revenue 188M USD (2023)
DESCRIPTION

Flotek is a diversified global supplier of drilling and production products and services to the energy and mining industries. Flotek Industries was founded in 1985 and is based in Houston, Texas.

DEAL STATS #
Overall 2 of 9
Sector (Chemicals) 1 of 2
Type (Add-on Acquisition) 1 of 8
State (Florida) 1 of 1
Country (United States) 2 of 9
Year (2013) 1 of 3
Size (of disclosed) 1 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2001-11-05 Chemical & Equipment Specialties

Marlow, Oklahoma, United States

CESI operates in two primary segments of the oilfield service industry; specialty chemicals and equipment manufacturing. The specialty chemical segment develops, manufactures and packages innovative cementing and stimulation chemicals, including the development of environmentally neutral chemicals. The equipment manufacturing segment manufactures, to exacting specifications and ISO 9001 standards, specialized cementing equipment (pumping and bulk material transport) and stimulation equipment (nitrogen, blending and pumping), as well as proprietary automated monitoring and control systems. CESI also designs and constructs automated bulk material handling and loading facilities for major oilfield service companies.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-07-29 Eclipse IOR Services

Keller, Texas, United States

Eclipse is a provider of enhanced recovery technologies for oil and natural gas producers. Eclipse offers enhanced oil recovery technologies and services including water control polymers for producing wells, sweep improvement (polymer gel) technology for waterfloods and CO2 floods, mobility control polymer flooding, injectivity improvement for waterfloods, permanent clay stabilization, and alkaline-surfactant processes for waterfloods as well as a wide-range of consulting services to its clients in North America and internationally.

Buy -
Mergr

Product

Company

Legal