HOUSTON, September 14, 2024–(BUSINESS WIRE)–SCF Partners, Inc. (“SCF”) is pleased to announce the acquisition of Newpark Fluids Systems (“NFS”), a leading global provider of fluid solutions for the oil, gas and geothermal industries, from Newpark Resources Inc. (NYSE: NR). Newpark Fluids Systems provides a comprehensive portfolio of drilling and completions products and related technical services, supported by an innovative numerical modeling software suite, global supply chain and infrastructure to improve the efficiency and productivity of our customers’ performance.
David Paterson, Managing Director of Newpark Fluid Systems, said: “We are delighted to be partnering with SCF. This new partnership will create tremendous value for both our customers and the entire Newpark Fluids Systems team. Our global strategic growth plan will now accelerate under the leadership of a new, focused Board with significant energy experience and commitment. SCF’s unrivalled success in the global energy services industry offers exciting opportunities for the future.”
Deviyani Misra-Godwin, Principal at SCF Partners, said: “For over 25 years, Newpark Fluids Systems has maintained a leading position in drilling and completion fluids worldwide, improving customer performance through industry-leading service. Newpark Fluid Systems’ global footprint, top-quartile safety performance, industry-leading technology portfolio and preeminent position in the growing geothermal sector will accelerate success in an evolving energy landscape. Together with the management team, we look forward to creating significant value for our customers and employees in this next chapter of growth.”
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Vinson & Elkins LLP acted as legal advisor to SCF in connection with the transaction.
About Newpark Fluids Systems
Newpark Fluids Systems provides drilling and completion fluids products and related technical services to customers for oil, gas and geothermal projects primarily in North America, Europe, the Middle East and Africa, and select countries in Asia Pacific. NFS uses a fluid-centric approach, global reach, and local knowledge to improve the efficiency and productivity of customers’ operations worldwide. 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 completed more than 400 additional acquisitions to grow 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 rents advanced sustainable composite products, as well as a full range of services including planning, logistics and remediation. For more information, visit www.newpark.com.
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