On October 11, 2022, Infineum and Entegris, Inc. (NASDAQ: ENTG) announced that Infineum had agreed to acquire the Pipeline and Industrial Materials (PIM) business from Entegris. This PIM division, which includes the Flowchem, Val-Tex, and Sealweld brands, is part of Entegris' Specialty Chemicals and Engineered Materials (SCEM) sector. The deal, expected to close in the fourth quarter of 2022, is contingent on necessary regulatory approvals and standard closing conditions.

The acquisition aims to enhance Infineum’s position in the specialty chemicals industry, particularly focusing on Drag Reducing Agents (DRAs), which are crucial for pipeline operations. Infineum’s CEO, Trevor Russell, emphasized the strategic alignment and potential growth from integrating the PIM business. Shee Young Kim, Infineum's Director of Global Business Growth, highlighted the expected synergies and technological enhancements that would bolster innovation and reliability for customers.

Infineum, a joint venture between Shell and ExxonMobil, is a leader in formulating and marketing petroleum additives. Entegris, a supplier of advanced materials for high-tech industries, has a strong presence in multiple countries with around 10,000 employees.

The PIM business under Entegris involved brands like Flowchem in Texas, which provides various DRAs, and Val-Tex and Sealweld, which offer essential maintenance products and services for industrial valve operations.

Legal advisors for the transaction included Lowenstein Sandler and Osler for Infineum and Wachtell, Lipton, Rosen & Katz for Entegris. Lazard Freres & Co. LLC acted as the financial advisor for Entegris.