Innospec Expands Oilfield Specialties Business With Acquisition of Strata Control Services
Published: Jan 08, 2013
LITTLETON, Colo., Jan. 7, 2013 (GLOBE NEWSWIRE) -- Innospec Inc. (Nasdaq:IOSP) today announced that a subsidiary of Innospec has acquired Strata Control Services Inc., a private company. The transaction, which was completed on December 24, 2012, includes a performance element in the purchase price and represents between 6x 2012 EBITDA and 5x 2013E EBITDA. The deal is expected to be accretive to Innospec within the first year.