Innospec Inc successfully closes acquisition Independence Oilfield Chemicals

Innospec closes acquisition of Independence Oilfield Chemicals

11:17 AM, 28th October 2014
Innospec Inc successfully closes acquisition of Independence Oilfield Chemicals

ENGLEWOOD, US: Innospec Inc has successfully closed the acquisition of Independence Oilfield Chemicals LLC, which was announced on 1 October 2014. This follows the successful clearance of pre-merger notification by the Federal Trade Commission and the US Department of Justice under the Hart Scott Rodino Act. With effect from 27 October 2014, Independence will become a wholly-owned subsidiary of Innospec.

“We are delighted that we have been able to complete the acquisition quickly, so that we can move forward with our strategy of building a new market leader in oilfield chemicals. We now have a full range of technologies to cover drilling, completion, stimulation and production chemicals and we are present in all the major US basins. We expect the transaction to be accretive immediately, adding around $0.60 per share to our annualized pre-amortization EPS,” said Patrick S Williams, President and CEO, Innospec.

 

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