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Flotek Industries, Inc. (FTK)

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  • May 10, 2013, 8:32 AM
    Flotek Industries (FTK) agrees to acquire privately-held citrus oils producer Florida Chemical for ~$102M in cash and stock, a deal the specialty chemical company says will help it secure key raw materials. Florida Chemical makes bio-based products for the oil and gas business, among others, and has been a FTK supplier for 15 years.
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  • Apr. 9, 2013, 11:47 AM
    GE's planned purchase of pump maker Lufkin (LUFK) at the industry’s most expensive price tag highlights demand for oilfield equipment that may spark takeover interest from large-cap oilfield servicers for Weatherford (WFT), Flotek (FTK) and Tesco (TESO), Bloomberg writes. Even after WFT surged yesterday on the Lufkin news, its $18B enterprise value still equals just 7.3x trailing 12-month EBITDA.
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Company Description
Flotek Industries Inc develops and supplies oilfield products, services and equipment to the oil, gas & mining industries, & high value compounds to companies making cleaning products, cosmetics, food and beverages sold in consumer and industrial markets.