Foremark Performance Chemicals, a natural gas sweetener and formalin manufacturing company and a portfolio company of SK Capital Partners, has purchased NexGen Chemical Technologies, a provider of natural gas sweetening services that look to improve the efficiency and total cost of operations for E&P and midstream operators, from Black Bay Energy Capital.
NexGen works with oil and gas operators and other business partners to design custom services to address operational problems and inefficiencies. The acquisition of NexGen looks to extend Foremark’s position in natural gas sweetening and expands Foremark’s geographic reach, customer base and product portfolio. NexGen’s products will be integrated and consolidated into Foremark’s La Porte, Texas, site to help with its efficiency, available capacity and carbon footprint.
“Foremark is the ideal partner to drive our next phase of growth and we are excited to continue to participate as part of the Foremark management team as well as shareholders,” says Chris Williamson, CEO of NexGen.