Italmatch Chemicals, an Italy-based chemical group, has acquired Water Science Technologies (WST), an Alabama-based blender and chemical solutions provider for the oil & gas and industrial water treatment industries of North America.
This acquisition will boost Italmatch Global Advanced Water Solutions business unit and its presence in the oil and gas market of the North American region.
Financial details of the deal have not been disclosed.
Italmatch Chemicals Group founder and CEO Sergio Iorio said: “WST is a young, dynamic and outstanding company with a great focus on technology-driven solutions. WST has multiple opportunities which strategically fall into the development growth path of Italmatch Advanced Water Solutions, strengthening Italmatch’s position in the industrial water and oil & gas industries.
With the conclusion of the BWA Water Additives acquisition in February this year, this latest deal will enable Italmatch additional industrial, commercial and technological synergies.
Iorio further added: “This acquisition is driven by Italmatch’s high focus on customer relationship/reputation and innovation together with a highly motivated and experienced team with a strong entrepreneurial approach dedicated to problem solving. The integration will enable Italmatch Chemicals to deliver robust performance, a complete chemical product range, and important value for long-term sustainable growth, jointly with our existing Customers and Partners.”
Italmatch Chemicals USA CEO Danny Mc Caul said: “This acquisition represents another important step for Italmatch growth in the North American market, in line with the Group objectives in North America in its strategic sectors, starting from industrial water solutions, where the companies have a complementary product range. It will also provide a solid logistic base to better serve our oil & gas customers.”
Water Science Technologies CEO James Sasser said, “We at WST are excited about the acquisition by Italmatch Chemicals, a long standing, first class, global chemical company. We think Italmatch backing will accelerate WST growth, also in terms of innovation and geographical presence.”
In April this year, Italmatch Chemicals acquired Eco Inhibitors, a Norway-based technology start-up company developing chemical solutions to produce eco-friendly hydrate inhibitors for oil and gas applications.