Univar to Acquire Magnablend
December 05, 2012Univar
REDMOND, Washington – WAXAHACHIE, Texas – December 5, 2012 – Univar, a global leader in the distribution of chemistry and related services, and Magnablend, a Texas-based provider of custom chemical manufacturing, blending, and packaging solutions, announced today the signing of a definitive agreement for Univar to acquire the company. The acquisition is expected to close by the end of December 2012, subject to customary closing conditions and regulatory clearances. Additional terms of the acquisition were not disclosed.
"The acquisition of Magnablend is an important step forward in Univar’s continued focus on the rapidly-growing, North American oil and gas market,” said Univar President and Chief Executive Officer Erik Fyrwald. “Magnablend’s geographic position at the heart of current and developing shale basins allows us to offer a comprehensive suite of products and services to meet increasing customer demand.”
Magnablend specializes in custom chemical manufacturing, blending, and packaging for a variety of industries, including energy/oil and gas services, agriculture, and water treatment, among others. The company specializes in completion chemicals used in the oil and gas industry, including guar gum slurries, cross linkers, breakers, and buffers, and has provided chemical formulation and blending services to the oil and gas and agriculture industries for over 30 years.
“Univar is an excellent partner for Magnablend. We have similar approaches to the market, very strong customer relationships, and a focus on providing high value-added services and deep industry expertise to customers,” said Magnablend Chief Executive Officer Scott Pendery. “The combination will create synergies by providing enhanced services for our customers, better geographical coverage, and improved economies of scale.”