Flotek to acquire International Polymerics

John Chisholm, president chairman and chief executive officer, Flotek, said, “Donald Bramblett is widely regarded as one of the world’s top experts on natural polymers and guar, adding more firepower to Flotek’s leading oilfield chemistry research team. And, the addition of polymer chemistry and delivery systems to Flotek’s stable of oilfield chemistry allows us to further accelerate our Prescriptive Chemistry Management efforts, focused on providing total chemistry solutions for our clients’ wells.”

International Polymerics has high strategic value for Flotek in both the application of polymer chemistry to new, value-added oilfield chemistries as well for its core guar powder and slurries which serve as key delivery media for Flotek’s proprietary chemistries such as PrF and CnF completion chemistries. Chisholm added, “This acquisition should allow us to accelerate our fluid systems development while adding-value and increasing margins in IPI’s core guar business using our direct distribution network.”

“Finally, we believe that the IPI acquisition opens the door to natural polymer applications in other industrial segments. Moreover, the Monahans, Texas facility is advantageously located in the heart of the Permian Basin which provides a strategic base from which to operate Flotek’s regional chemistry operations, creating efficiencies not presently available,” concluded Chisholm.

Donald Bramblett will remain the president of IPI and will report to Josh Snively, executive vice president of Flotek who oversees the company’s chemistry manufacturing efforts.