ESP Resources, Inc., a manufacturer, blender, distributor and marketer of specialty chemicals and analytical services to the oil and gas industry, recently announced that the company has reached an agreement on the purchase price and material terms to acquire Turf Chemistry, Inc., a manufacturer and distributor of specialty chemicals for the oil and gas industry in the Southwest and Southern regions of Texas.
Founded in 2006 and based in Mission, Texas, Turf Chemistry’s unaudited revenues for fiscal year 2008 exceeded $1 million, and its senior management has more than 40 years of experience in the petrochemical business. The Turf product line includes surfactants, well completion and work-over chemicals, bactericides, scale inhibitors, antifoams, paraffin inhibitors and water clarifiers. In addition, Turf has a fully functional blending facility that blends all finished products for distribution.
David Dugas, president of ESP Resources, Inc., stated, “With Turf, we are acquiring greater distribution in South Texas as well as valued expertise and the opportunity to expand contracts with multinational oil and gas companies in existing fields. After the acquisition, the combined companies’ operational footprint for coverage, support and delivery of chemical products finished goods should more than double.” He concluded, “We plan an aggressive expansion into areas serviced by Turf currently for the remainder of 2009 and 2010.”
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