a wholly owned subsidiary of Syrgis Performance Products, LLC has been acquired by
Grace Matthews advised Syrgis Performance Products
Grace Matthews advised Syrgis Performance Products, LLC on the sale of its wholly owned subsidiary PChem, Inc. to Weatherford International, Ltd. Syrgis is controlled by Edgewater Capital, a Cleveland-based private equity firm focused on specialty chemicals and materials manufacturing. Grace Matthews was engaged to help Syrgis source and close a strategically valued exit for PChem, a manufacturer of oilfield service chemicals.
During the process, Weatherford, an international oilfield services firm based in Geneva, Switzerland, emerged as the best possible buyer for PChem.
"PChem's oil field chemicals business is a great strategic fit for Weatherford from both a technology and market perspective," said Kevin Yttre, a Grace Matthews Director and head of the Syrgis project team. "With its ability to custom formulate chemicals for the unique physical characteristics of the oil and gas produced in specific geographic regions, PChem will benefit greatly from Weatherford's huge global footprint and marketing resources."