Fineotex Chemical acquires CrudeChem Technologies, targets $200m oilfield chemicals business

Fineotex Chemical Limited, through its subsidiary Fineotex Biotex Healthguard FZE, has entered a definitive agreement to acquire a 53.33% controlling stake in four US-based specialty chemical companies forming the CrudeChem Technologies Group. This acquisition, valued at approximately $11.5 million, will bring the combined annual revenue of the acquired entities to $68 million. This move is expected to be EPS-accretive and aims to build a $200 million business in oilfield specialty chemicals within the coming years.

The acquisition enhances Fineotex’s market presence in key US oilfield hubs like Midland and Brookshire, Texas, and strengthens its position in the international specialty oilfield chemical segment. The integration of CrudeChem’s R&D infrastructure in Texas with Fineotex’s formulation chemistry expertise is expected to accelerate technology transfer, co-development of advanced chemistries, and faster product innovation for global oilfield needs. Fineotex plans further investments exceeding $10 million in plant and machinery for the acquired group in the coming years.

The company will begin consolidating the acquired numbers in its P&L statement from mid-December 2025, with January 1, 2026, marking the start of significant consolidation differences. Fineotex has a commitment to acquire an additional 25% stake in CrudeChem by January 2028, based on future valuation. The North American oilfield chemicals market is projected to reach $11.5 billion by 2025.