SCF Partners Acquires Newpark Fluids Systems for $127.5 Million
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SCF Partners has acquired the Newpark Fluids Systems business (NFS) from Newpark Resources. Newpark Fluids Systems provides a full range of drilling and completion products and related technical services supported by an innovative digital modeling software suite, global supply chain, and infrastructure to enhance the efficiency and productivity of its customers’ performance.
“We are thrilled to partner with SCF. This new partnership will be a source of enormous value creation for both our customers and the entire Newpark Fluids Systems team. Our global strategic growth plan will now accelerate under a new and focused board with significant energy experience and commitment. SCF’s unsurpassed track record of success in the global energy services industry provides exciting opportunities as we look to the future,” said Newpark Fluid Systems’ CEO, David Paterson.
“The sale simplifies our business model and meaningfully improves our margin profile, return on investment and profitability potential, while enabling us to commit 100 percent of our attention to our growth strategy. In the coming months, we will also rebrand the company and pursue the appropriate industry re-classification to reflect our strategic focus beyond the company’s historical oilfield association and better align with our future growth market coverage,” said Matthew Lanigan, president and CEO of Newpark.
“We are excited to see our Fluids Systems business and the Newpark brand under the ownership of SCF who have an outstanding record of growing businesses and wish them both every success in the future,” added Lanigan.
“For more than 25 years, Newpark Fluids Systems has maintained a leading position in the drilling and completions fluids space worldwide, improving customer performance by providing industry-leading service quality. Newpark Fluid Systems’ global footprint, top quartile safety performance, leading portfolio of technology and preeminent position in the growing geothermal space will accelerate success in the evolving energy landscape,” said Deviyani Misra-Godwin, director at SCF Partners.
“Together with the leadership team, we look forward to creating tremendous value for our customers and employees in this next chapter of growth,” added Misra-Godwin.
Newpark Fluids Systems provides drilling and completion fluids products and related technical services to customers for oil, natural gas, and geothermal projects primarily in North America, Europe, the Middle East, and Africa, as well as certain countries in Asia Pacific. NFS utilizes a fluids-focused and global reach, local knowledge approach to improve efficiency and productivity of customer operations globally.
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