Magnablend, a Waxahachie-based chemical company that became a big supplier of chemicals for hydraulic fracturing, has agreed to be acquired by Univar, based in Redmond, Wash. Magnablend in October 2011 suffered a spectacular fire that destroyed its facility near U.S. 287 and Interstate 35E. In January the company bought 135 acres and a 214,000-square-foot building at the site of the former superconducting super collider, which was shuttered 19 years ago.
In announcing the sale, the companies said Magnablend's sales will top $400 million in 2012. Univar last year had $9.7 billion in sales. Terms were not disclosed.
"The acquisition of Magnablend is an important step forward in Univar's continued focus on the rapidly-growing North American oil and gas market," Univar CEO Erik Fyrwald said in a prepared release. "Magnablend's geographic position at the heart of current and developing shale basins allows us to offer a comprehensive suit of products and services to meet increasing customer demand." Magnablend was founded in 1979, and besides energy-related products it packages root stimulators, specialty fertilizers, animal nutrients and commercial cleaners. and is headed by CEO Scott Pendery, who said the companies are a good fit and will provide "enhanced services for our customers, better geographical coverage and improved economies of scale."
-- Jim Fuquay