Sterling Specialty Chemicals, a Praana Group entity, has signed a definitive agreement for the acquisition of a portion of Halliburton’s Multi-Chem business.

The Multi-Chem business brings a strong heritage of delivering value to customers through services and high-performance specialty chemicals across completion, production, midstream, and downstream applications, with capabilities spanning stimulation chemicals, production chemicals, and advanced water-treatment formulations.

The business operates a diversified footprint, featuring five advanced chemical facilities across the U.S. and the Middle East — including the state-of-the-art Desert Rose plant in Jubail, Saudi Arabia — as well as ten U.S. field locations and key sites such as Geismar, Bayport, Sonora, and the Houston R&D center.

These assets significantly enhance Sterling’s manufacturing, R&D, and service capabilities, enabling Sterling Specialty Chemicals to accelerate its growth beyond traditional oil and gas markets and deliver innovative, high-quality chemical solutions to global customers. The transaction is subject to regulatory approval and other customary closing conditions.

Pedro Materan, CEO of Sterling Specialty Chemicals, commented, “This pending acquisition marks an important step in strengthening Sterling’s global specialty chemicals platform. Multi-Chem’s people, capabilities, and assets will immediately expand the value we deliver to customers across energy, water, and industrial markets.”