10/08/2024
Imperative Chemical Partners Expands Midstream Services Through Acquisition of Performance Chemical Company.
Imperative Chemical Partners, Inc. ("Imperative") today announced the acquisition of Performance Chemical Company ("PCC"), a leading provider of specialty chemical solutions primarily serving midstream and production operators in the oil and gas industry. This marks Imperative's second acquisition of the year, following the successful integration of Western Chemical, and represents a key step in expanding its depth and breadth of services, primarily to midstream customers throughout the United States. Terms of the transaction were not disclosed.
Founded in 2009 and headquartered in Midland, TX, PCC is a leading chemical solutions provider in the Permian Basin, offering customized chemical formulations and field application services to protect assets, provide flow assurance, and manage produced water for midstream and upstream oil and gas infrastructure.
Jerry and Burl Fuller, PCC's CEO and President, will retire after more than 15 years with the company and a distinguished career in the oil and gas specialty chemicals industry.
"As I step into retirement, I want to express my deepest gratitude to the entire Performance Chemical team," said Jerry Fuller. "Your dedication, hard work, and passion have been the driving force behind our success over the past 15 years. I'm incredibly excited about the opportunities ahead for each of you. With Imperative's expertise, resources, and aligned values, I have no doubt the future holds tremendous growth and new possibilities for everyone."
Garrett Tucker, COO of Imperative, said: "We recognize the exceptional leadership and commitment to customers and employees that have built PCC's strong reputation. We're excited to bring on such a high-performing team as we embark on this next chapter and look forward to achieving even more success as one unified organization." He went on to say, "By combining our technical expertise and distribution network, we see significant opportunities to provide enhanced support and digital capabilities to customers not just in the Permian Basin but across Imperative's extended geographic footprint."
"This acquisition is a strategic milestone, expanding our operations to provide best-in-class specialty chemical solutions to our nation's critical midstream and producing infrastructure and enables us to continue delivering the highest level of customer service by further scaling our operations," said Ryan Havens, CEO of Imperative. "Additionally, this investment marks another exciting milestone in our ongoing search to identify and acquire value-enhancing organizations that align with our mission and long-term goals," he added.
Locke Lord LLP served as legal counsel to Imperative. PPHB served as PCC's financial advisor.
About Imperative Chemical Partners
Imperative Chemical Partners, Inc. is a Midland, Texas-based provider of production and completion chemical, acid stimulation, and capillary injection solutions for upstream and midstream oil, gas, and water customers. While the company's origins date back to 2004, the Imperative brand was formed in 2019 with the merger of three Midland-based chemical businesses. Imperative has almost 900 employees and 40+ locations serving customers across 10 states. For more information, visit www.imperativechemicals.com
About Performance Chemical Company
Founded in 2009 and headquartered in Midland, Texas, PCC is a leading privately held provider of specialty chemical solutions, primarily serving midstream and production operators in the oil and gas industry. With deep expertise in formulating proprietary chemistries, PCC supports the operational integrity of pipelines and oil wells, ensuring optimal flow and asset longevity. PCC's advanced blending facilities and state-of-the-art dry chemistry production capabilities enable the company to deliver customized chemical solutions throughout the Permian Basin. For more information, visit https://www.perf-chem.com/
https://www.prnewswire.com/news-releases/imperative-chemical-partners-expands-midstream-services-through-acquisition-of-performance-chemical-company-302269321.html
