Shropshire manufacturer acquired by US company

A Shropshire manufacturer which works with clients in the oil and gas industry has been acquired by a American company.

Wem-based Clear Solutions International has been bought out by Shrieve Chemical Company.

Clear Solutions International was founded in 2003 and operates from a base on Wem Industrial Estate.

It produces the Pure-Bore family of drilling fluids which serve customers in the oil and gas, geothermal, tunneling, mining and geotechnical industries across the UK, Europe and North America.

Pure-Bore works to reduce fresh water use and waste disposal costs by allowing wastewater to be reused in the drilling process.

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Shrieve Chemical Company, which was founded in 1978, is headquartered in Texas and is a global distributor of specialised chemicals serving a broad range of markets.

Clear Solutions International's president Glynn Williams said: "Shrieve's commitment to growth, innovation and customer service makes it an ideal partner for us.

"Together, we can leverage our complementary strengths to expand the reach of the Pure-Bore product family while continuing to deliver the quality and technical support our customers expect."

Shrieve's chief executive Joey Gullion added: "We are excited to welcome the Clear Solutions team to Shrieve.

"The Pure-Bore technology platform, strong customer relationships and technical expertise developed by Clear Solutions make this a strong strategic fit.

"This acquisition expands our capabilities and enhances our energy and infrastructure offering, creating new opportunities to support customers across multiple sectors and geographies."

FRP Corporate Finance in Manchester advised Clear Solutions International on the buyout deal.