Mumbai (Maharashtra) [India], December 17: Fineotex Chemical Limited today announced a landmark strategic acquisition of CrudeChem Technologies Group, a U.S.-based specialty oilfield chemicals business, through its subsidiary Fineotex Biotex Healthguard FZE. Under the definitive agreement, Fineotex will acquire a 53.33% controlling stake in four U.S. entities that comprise the CrudeChem group, in a transaction valued at approximately USD 11.5 million. The acquisition is expected to be EPS-accretive and substantially strengthens Fineotex's presence in the global oilfield specialty chemicals segment, particularly across North America where CrudeChem maintains a strong footprint in key oilfield hubs in Texas.
CrudeChem Technologies, founded over a decade ago by three industry veterans, brings annual revenues of roughly USD 68 million, well-established customer relationships, and a world-class technical laboratory and operational facilities in Midland and Brookshire, Texas. The combination of CrudeChem's robust R&D infrastructure and Fineotex's formulation chemistry expertise is anticipated to accelerate technology transfer, enable co-development of advanced and ESG-compliant oilfield chemistries, and drive faster innovation tailored for global markets. Management highlighted that the deal unlocks powerful synergies through complementary product portfolios, significant cross-selling opportunities across India, Asia and North America, and deeper participation in high-growth segments such as oilfield production, stimulation and water treatment.
This acquisition represents a transformational step in Fineotex's international growth strategy and supports the company's stated objective to build a USD 200 million oilfield specialty chemicals business over the coming years. Fineotex said the expansion into North America positions the company to better serve Tier‑1 global energy producers and capitalise on the projected growth of key regional markets—where segments including refining and water treatment are forecast to reach multi‑billion dollar scale by 2025. The company intends to fund growth from strong internal cash reserves, scalable operations and continued investment in sustainable, innovation-led development.
The deal follows a period of operational momentum for Fineotex: the company reported consolidated total income of Rs 146.22 crore for the latest quarter, up 15% quarter-on-quarter, driven by solid performances in textile chemicals and oil & gas. EBITDA rose 18% to Rs 25.20 crore and net profit increased 24% to Rs 25.03 crore, coinciding with the successful completion and commissioning of a new Rs 60 crore manufacturing facility that adds 15,000 MTPA capacity. Fineotex noted that while its full fiscal 2025 results showed a moderated performance versus FY24—net sales of Rs 533 crore and net profit of Rs 109 crore versus Rs 569 crore and Rs 121 crore respectively—the company remains focused on margin expansion, geographic diversification and long-term value creation.
Fineotex Chemical Limited, a leading Indian multinational producer of specialty performance chemicals, supplies sustainable, technology-driven solutions across industries including textile and garment processing, home care, water treatment and oil & gas. With advanced manufacturing facilities in Ambernath (India) and Selangor (Malaysia), an NABL-accredited R&D laboratory, an expanding dealer and distributor network of more than 103 partners in India and market reach across roughly 70 countries, Fineotex is well-placed to integrate CrudeChem's capabilities and accelerate its next phase of global growth.
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