[Context: On October 25, ACON-backed Sequitur Energy Resources, an upstream company focused on the Southern Midland, announced that its subsidiary Chromatic Industries acquired Quality Oil Tools, a valve supplier. Further details, advisors and related links are below.]
Chromatic Industries, LLC Announces the Acquisition of Assets from Quality Oil Tools, LLC
HOUSTON–October 25, 2017–(BUSINESS WIRE)–Chromatic Industries, LLC (“Chromatic”) wishes to announce that it has acquired certain assets and the principal business of Quality Oil Tools, LLC (“QOT”) in Jennings, LA. The company will continue doing business as Quality Oil Tools and will be part of Chromatic Oil Tools, LLC, a new subsidiary of Chromatic.
QOT was founded in 2002, and has developed an excellent reputation in the oilfield as a premier provider of high quality pressure control equipment, including gate valves, check valves, chokes and kill manifolds as well as replacement parts and repairs. Chromatic will retain the facility in Jennings, LA and the associated personnel.
Mark Gamber, CEO of Chromatic, said, “I am excited about the acquisition of the QOT assets as it expands our footprint and integrates well with our existing valve lines. We look forward to working with the QOT team to continue delivering the high quality products and services that QOT and Chromatic customers expect.”
Simmons & Company International, Energy Specialists of Piper Jaffray, served as exclusive advisor to Chromatic on the transaction.
About Chromatic Industries, LLC
Chromatic Industries, LLC, a subsidiary of Sequitur Energy Resources, LLC, is a global valve manufacturer of specialty engineered valves for the energy, power, and petrochemicals sectors.