VOL. 132 | NO. 196 | Tuesday, October 3, 2017
Buckman Acquires CiDRA Chemical
By Bill Dries
Memphis-based Buckman has acquired CiDRA Chemical Management Inc. of Wallingford, Connecticut, Buckman announced Tuesday, Oct. 3. Terms of the deal were not announced.
CiDRA, which makes technology used in mining, oil and gas exploration, and genetic laboratories, was a wholly owned subsidiary of CiDRA Holdings Inc. Buckman took ownership of CiDRA Chemical’s outstanding stock effective Sept. 30, and plans to integrate CiDRA employees into its current workforce.
Buckman, a global specialty chemical company, is a wholly owned subsidiary of Bulab Holdings Inc.
In the deal, Buckman gets a global, exclusive and perpetual license to a group of CiDRA’s intellectual property, including patents for measuring entrained air in the paper, pulp, biorefining, bioprocessing and ethanol industries. Along with exclusive rights to offer the products in those industries, Buckman will have non-exclusive rights to offer them to the oil and gas, automotive, metalworking, and paints and coatings industries.
Sales of the entrained air technology will begin with customers in North America, with global sales to come later.
“The real value comes from being able to leverage smart technology with our proven chemical applications, advanced monitoring systems and dedicated, experienced people to deliver a solution specific to the customer that improves their operations, productivity and performance,” Bulab Holdings CEO and president Junai Maharaj said in a written statement.