SYNOPSIS:
Fineotex, via its subsidiary, is acquiring majority stakes in four U.S. specialty chemical firms, strengthening its oilfield chemicals presence and targeting a $200-million business amid strong North American market growth.
During Friday’s trading session, shares of a global leader in specialty performance chemicals, serving the textile, water treatment, oil & gas, home care, and allied industries, surged nearly 8 percent on stock exchanges, following around Rs. 101 crore strategic acquisitions to expand business in the specialty chemical sector.
At 03:27 p.m., the shares of Fineotex Chemical Limited were trading in the green at Rs. 25.48 on BSE, up by around 6.3 percent, as against its previous closing price of Rs. 23.98, with a market cap of Rs. 2,919.4 crores.
What’s the News
Fineotex Chemical Limited, through its wholly-owned subsidiary Fineotex Biotex Healthguard FZE, has entered into a definitive agreement to acquire equity interests in four US-based specialty chemical companies, as disclosed in recent regulatory filings.
Fineotex Biotex will acquire a 53.33 percent stake in each entity, subject to closing conditions, with all transactions expected to be completed within one month or on a mutually agreed timeline. These acquisitions mark a major step forward in the company’s strategic roadmap to scale its presence in the Specialty Chemicals sector.
The opportunity is underscored by the scale of the addressable market. North America’s specialty chemical demand in the oil and gas value chain is projected to reach $11.5 billion in 2025, driven by strong growth across the midstream, refining, and water-treatment segments. With these acquisitions, Fineotex gains access to a rapidly expanding market and enhances its ability to participate meaningfully in global oil-field chemical applications.
I. CrudeChem Technology LLC
Cost of acquisition: Up to $1,10,07,360 (approx. Rs. 99.06 crore)
CrudeChem Technologies Group is a well-established US manufacturer of advanced chemical fluid additives and comprehensive oilfield chemical solutions for the global oil & gas sector.
Turnover:
- FY 2024-25: $5,30,21,551
- FY 2023-24: $6,60,20,516
- FY 2022-23: $5,30,56,505
II. FrackMex Equipment and Services LLC
Cost of Acquisition: Up to $1,79,200 (approx. Rs. 1.6 crore)
FrackMex Equipment and Services LLC is a US-based specialty chemical provider serving the oil & gas industries with a portfolio of advanced high-performing chemical technologies. The company counts several of the world’s largest energy producers and oilfield operators among its customers.
Turnover:
- FY 2024-25: $32,45,478
- FY 2023-24: $64,88,472
- FY 2022-23: $43,56,554
III. Lonestar Technoboost LLC
Cost of acquisition: Up to $4,480 (approx. Rs. 4.03 lakh)
Lonestar Technoboost LLC is a US-based specialty chemical company catering to the oil & gas industries with a portfolio of advanced, high-performance chemical technologies.
Turnover:
- FY 2024-25: $1,11,44,958
- FY 2023-24: $28,09,049
- FY 2022-23: $94,01,231
IV. Oil Pro Advantage INC
Cost of acquisition: Up to $8,960 (approx. Rs. 8.06 lakh)
Oil Pro Advantage Inc. is engaged in offering high-performing specialty chemical solutions for the US oil and gas sector.
Turnover:
- FY 2024-25: $4,46,793
- FY 2023-24: $3,40,000
- FY 2022-23: $6,02,988
Commenting on the development, Executive Director Mr Sanjay Tibrewala said the acquisitions represent a defining milestone in Fineotex’s global expansion strategy and support its ambition to build a $200-million oilfield chemicals business in the coming years. He added that the combined platform will strengthen innovation, environmental responsibility and global reach, with Fineotex initially holding a controlling stake and planning to increase its ownership over time.
Financials & More:
Fineotex Chemical reported a marginal decline in revenue from operations, experiencing a year-on-year decrease of more than 5 percent, from Rs. 146 crores in Q2 FY25 to Rs. 138 crores in Q2 FY26.
Likewise, the company’s net profit decreased during the same period, from Rs. 32 crores to Rs. 26 crores, reflecting a fall of around 19 percent YoY. As per the November 2025 shareholding data available with the BSE, ace investor Ashish Kacholia holds a 2.62 percent stake in the company.
Fineotex Chemical Limited is engaged in the business of manufacturing textile chemicals, auxiliaries and specialty chemicals. Originally focused on textile chemicals, the company has successfully expanded into adjacent verticals such as cleaning and hygiene, oil and gas, water treatment, and performance chemicals.
It operates three manufacturing plants with a combined capacity of 1,04,000 MTPA, including state-of-the-art facilities at Ambernath (61,000 MTPA), Mahape (36,500 MTPA), and Malaysia (6,500 MTPA). The fourth plant with a capacity of 15,000 MTPA began operations in August 2025.
The company also has a strong R&D ecosystem, supported through a joint venture with Biotex of Malaysia and collaborations with EuroDye (Belgium), HealthGuard (Australia), and Sasmira (India).
Written by Shivani Singh
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