Dorf Ketal Chemicals India Private Limited signed a definitive agreement with Clariant to acquire its North American Land Oilfield Chemicals Business
EY successfully advised Dorf Ketal Chemicals India Private Limited (Dorf Ketal) in signing a definitive agreement with Clariant to acquire its North American Land Oilfield Chemicals Business (NORAM OIL).
EY acted as the exclusive M&A advisor to Dorf Ketal in this marquee out-bound transaction in Oilfield Chemicals Space.
Dorf Ketal is one of the largest Indian manufacturer of research-based formulated specialty chemicals used in the treatment of refineries, petrochemical plants and ancillary units. Dorf Ketal is also the fastest-growing manufacturer of formulated specialty chemicals for upstream and downstream oil and gas markets. Dorf Ketal has a large global footprint with a strong presence in markets like the USA, Europe, Latin America, and South East Asia. The company was established in 1992 and is headquartered in Mumbai, India.
North American Land Oilfield Chemicals Business (NORAM OIL) is part of the global specialty chemicals major Clariant. NORAM OIL is a leading provider of innovative chemical technologies and services to the global oil and gas industry. NORAM OIL’s footprint is comprised of focus basins where there is strong customer pull for value-add technology solutions. The business is strategically positioned in fast-growing regions with good growth potential. NORAM Oil reported revenues of USD 113 mn for 2021.
With the acquisition of NORAM OIL, Dorf Ketal will become the largest oilfield chemicals and service company in Asia, competing with global conglomerates like Baker Hughes and ChampionX. This strategic acquisition consisting of innovative new technology, talented people, and strong customer relationships, will enable Dorf Ketal to continue its growth trajectory in North America – a significant and growing market for energy services
