Indiana-based Calumet Specialty Products bought Houston-based solids control and drilling fluids company Specialty Oilfield Solutions for $30 million.
The deal includes all assets held by Specialty, Calumet said Monday.
Calumet is an independent producer of fuel and specialty hydrocarbons products including solvents, asphalt and hydrocarbon gels.
Specialty has operations in the Eagle Ford, Texas and the Marcellus and Utica shale plays in New York.
Specialty will operate as a subsidiary of Oklahoma-based Anchor Drilling Fluids, a wholly-owned subsidiary of Calumet.
The partnership will allow Calumet to provide solids control equipment and services, Calumet said Monday.
“Oil field services remains a rapidly growing, yet highly fragmented industry. This accretive transaction helps to further build upon Calumet’s position as a leading supplier of specialized, high-quality products and services to drillers in the field.” President and COO of Calumet Jennifer Straumins said.
In the first quarter of 2014 Calumet reported an operating income of $35.3 million and an adjusted EBITDA of $82.7 million.
