Fineotex Chemical acquires controlling stake in four U.S. oilfield chemical companies

Fineotex Chemical Limited (FCL), through its wholly-owned subsidiary Fineotex Biotex Healthguard FZE, has acquired a 53.33% controlling stake in four U.S. specialty oilfield chemical companies: FrackMex Equipment and Services LLC, CrudeChem Technology LLC, Oil Pro Advantage INC, and Lonestar Technoboost LLC. This strategic acquisition, expected to be completed within one month, is part of Fineotex’s plan to expand its global footprint in the specialty chemical sector and participate meaningfully in the rapidly expanding North American oilfield chemicals market, which is projected to reach $11.5 billion in 2025.

The total cost of acquisition for these equity interests amounts to $120,000 for CrudeChem Technology LLC (FY2024-25 turnover $53,021,551), $179,200 for FrackMex Equipment and Services LLC (FY2024-25 turnover $3,245,478), $8,960 for Oil Pro Advantage INC (FY2024-25 turnover $446,793), and $4,480 for Lonestar Technoboost LLC (FY2024-25 turnover $11,144,958). These acquisitions were made via cash consideration and are not related party transactions.

The acquired companies are U.S. specialty chemical manufacturers serving the oil and gas industries with portfolios of advanced, high-performing chemical technologies. Fineotex Chemical aims to build a $200 million oilfield chemical business in the coming years and plans to gradually increase its investment and ownership in these entities.