Clariant and Dorf Ketal, the world’s leading specialty chemicals and services companies, headquartered in Mumbai, today announced a definitive agreement to acquire Dorf Ketal and Land Oil, Clariant’s North American division, and the North American gas industry.
Upon completion, the acquisition will include all business assets of Clariant NORAM Land Oil, including a team of 170 employees located in North America; a technology portfolio comprising more than 40 patent families; and operations located in Bakersfield, CA. Midland, Texas; and over 2,000 drilling, production, and stimulation compounds in the Black Hills, Texas.
“This acquisition will bring additional strategic assets, innovative new technology, talented people, and strong customer relationships into Dorf Ketal,” said Sudhir Menon, Chairman of Dorf Ketal Chemicals India Private Limited.
When completed, this will ensure continued growth in North America, an important and growing market for energy services, further aligning with our global focus and commitment to providing innovative services across the entire energy sector.”
Dorf Ketal increased revenue from $30 million in the oilfield chemicals business in 2018-2019 to nearly $275 million in revenue. This short-term revenue growth was driven by organic growth driven by innovative research-based products and well-thought-out acquisition strategies.
Dorf Ketal has become the largest petrochemical and services company in Asia. Compete against global giants like Baker Hughes and ChampionX.
The transaction, which was announced is subject to regulatory and other customary closing conditions and is expected to close in the first quarter of 2023. Clariant NORAM Land Oil’s 2021 sales of $113 million represent an exciting growth opportunity for Dorf Ketal.