Lufkin Industries Acquires North American Rod Lift Business of Schlumberger N.V.
Schlumberger N.V. (SLB)
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Source: PR Newswire
Expands Global Platform in Rod Lift Solutions MISSOURI CITY, Texas, Nov. 2, 2020 /PRNewswire/ -- Lufkin Industries ("Lufkin"), a portfolio company of KPS Capital Partners, LP ("KPS"), announced today that it has completed the acquisition of the North American Land Rod Lift Business (the "Rod Lift Business" or the "Business") of Schlumberger N.V. ("Schlumberger") (NYSE: SLB). Schlumberger's Rod Lift Business is a large provider of rod lift products and services in North America (onshore) with brands including Don-Nan, Shores Lift Solutions, KBA Engineering, Platinum Pumpjack Services and RLC Rod Lift Consulting. The Business provides its customers with a full product offering including downhole pumps and accessories, beam pumping units, sucker rods and gas lift products. The Rod Lift Business has significant manufacturing and distribution capacity and has developed differentiated technology offerings, including the proprietary PumpTrak software. The Business has an expansive footpr
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