© 2012 The Texas Lawbook.
By Natalie Posgate
Staff Writer for The Texas Lawbook
Houston-based Permian Mud Service, Inc. announced that it has entered a definitive merger agreement to be acquired
by Minnesota-based Ecolab for approximately $2.2 billion. This transaction includes Champion Technologies and CorsiTech, Permian’s principal operating companies.
Vinson & Elkins is representing Permian in the transaction, while Fulbright & Jaworski is advising Ecolab.
Houston M&A partner Christopher Collins is leading the deal for V&E. Other V&E lawyers assisting in the deal include Dallas partners James Meyer and David D’Alessandro; Houston partners John Lynch and Larry Nettles; a Washington, D.C. partner; and associates from the Houston and Dallas offices.
V&E has previously represented Permian and its subsidiary Champion Technologies for various M&A transactions, including when it sold its Densimix assets earlier this year and its December 2010 acquisition of ChemTech.
Ecolab is being represented by Houston partners Gene Lewis and Efren Acosta of Fulbright & Jaworski.
Champion Technologies and CorsiTech are leading suppliers of specialty oilfield chemistry and related services. Last year, the two companies combined generated more than $1.2 billion in revenues.
The deal is expected to close at the end of this year’s fourth quarter.