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Stock Market & Financial Investment News

News Breaks
January 7, 2013
14:02 EDTIOSPInnospec unit acquires Strata Control, see accretive within first year
Innospec announced that a subsidiary of Innospec has acquired Strata Control Services, a private company that supplies mud and fluid loss solutions to oil and gas drilling operations. The transaction, which was completed on December 24, includes a performance element in the purchase price and represents between 6x 2012 EBITDA and 5x 2013 EBITDA. The deal is expected to be accretive to Innospec within the first year. Strata Control's sales for 2012 were approximately $20M.
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