HOUSTON–( BUSINESS WIRE )–SCF Partners, Inc. is pleased to announce the acquisition of the business of Newpark Fluids Systems, a leading provider of petroleum and geothermal fluid solutions, from Newpark Resources Inc. (NYSE: NR). Newpark Fluids Systems provides a full range of drilling and completion products and related technical services, supported by an innovative digital modeling software suite, a global supply chain and infrastructure that improves the efficiency and productivity of our customers’ operations.
Newpark Fluid Systems CEO David Paterson said, “We are thrilled to partner with SCF. This new partnership will create tremendous value for our customers and the entire Newpark Fluids Systems team. Our global strategic growth plan will be accelerated by a new, focused board of directors with significant experience and commitment to the energy industry. SCF’s unsurpassed track record of success in the global energy services industry provides us with exciting opportunities as we look forward to the future.”
Deviyani Misra-Godwin, Director of SCF Partners, said: “For more than 25 years, Newpark Fluids Systems has maintained a leadership position in the global drilling and completion fluids industry, improving customer performance through quality of service. Newpark Fluid Systems’ global footprint, best-in-class safety performance, leading technology portfolio and leading position in the growing geothermal sector will accelerate success in the evolving energy landscape. Together with the leadership team, we look forward to creating tremendous value for our customers and employees in this next chapter of growth.”
Vinson & Elkins LLP acted as legal counsel to SCF on the transaction.
About Newpark Fluids Systems
Newpark Fluids Systems provides drilling and completion fluid products and related technical services to customers for oil, gas and geothermal projects primarily in North America, Europe, the Middle East and Africa, as well as select countries in Asia Pacific. NFS uses a fluid-centric approach, global reach and local knowledge to improve the efficiency and productivity of customer operations globally. For more information, visit www.newpark.com .
About SCF Partners
Founded in 1989, SCF provides equity capital and strategic growth assistance to build and grow leading energy services, equipment and technology businesses operating around the world. Over its history, SCF has invested in more than 80 platform companies and made more than 400 acquisitions to develop 18 publicly traded energy services and equipment companies. The firm is headquartered in Houston, Texas, with offices in Aberdeen and Australia. For more information, visit www.scfpartners.com .
About Newpark Resources
Newpark Resources, Inc. is a site access solutions company that manufactures, sells and leases industry-leading sustainable surfacing products, along with a full suite of services, including planning, logistics and remediation. Learn more at www.newpark.com .
