Syensqo today announced that it has completed the previously announced divestment of its Oil & Gas business unit to SNF Group for an Enterprise Value of €135 million. Syensqo’s Oil & Gas Business Unit, a global player in oilfield stimulation chemicals, generated net sales of approximately €400 million in 2024, or 6 per cent of Syensqo’s total net sales, and employs approximately 600 people.

“I am pleased to start the year with the completion of the divestment of the Oil & Gas business. In addition to securing a positive outcome for all stakeholders, it advances our pure play specialty strategy and enables us to further sharpen our strategic focus and to invest in our core businesses. I would also like to express my sincere gratitude to our colleagues and wish them continued success as they join SNF Group and embark on the next chapter of their journey,” said Mike Radossich, CEO of Syensqo.

“The completion of this transaction marks an important milestone for SNF Group. We are delighted to officially welcome the Syensqo’s Oil & Gas teams into SNF. Their strong technical expertise, innovative product portfolio, and deep customer relationships will accelerate our growth in this strategic market,” said Pascal Remy, Chairman and CEO, SNF Group.