Syensqo completes €135 million sale of its Oil & Gas unit to SNF Group, reinforcing its pure-play specialty chemicals strategy.
Syensqo has confirmed the successful completion of the previously announced divestment of its Oil & Gas Business Unit, marking a significant milestone in the company’s ongoing strategic transformation. The business unit has been sold to SNF Group for an enterprise value of €135 million, concluding a transaction that underscores Syensqo’s commitment to sharpening its focus on specialty and high-value chemical segments.
The Oil & Gas Business Unit has long been a recognized global supplier of oilfield stimulation chemicals, serving customers across major energy-producing regions worldwide. In 2024, the unit generated net sales of approximately €400 million, representing around 6 percent of Syensqo’s total net sales for the year. The business also employs roughly 600 people, whose expertise and operational capabilities have supported the development, manufacturing, and distribution of chemical solutions tailored to the demanding requirements of the oil and gas industry.
With the divestment now finalized, these employees will transition to SNF Group, where they are expected to continue contributing to the growth and innovation of the oilfield chemicals segment. Syensqo emphasized that the transaction was structured to ensure continuity for customers and partners while also providing a positive outcome for employees and other stakeholders involved in the business.
From a strategic perspective, the sale represents an important step in Syensqo’s evolution as a “pure-play” specialty chemicals company. By exiting the Oil & Gas Business Unit, the company is further streamlining its portfolio and reallocating capital and management attention toward core businesses that align more closely with its long-term vision. These core areas include advanced materials, specialty formulations, and solutions that support sustainability, innovation, and higher-margin growth opportunities.
Commenting on the completion of the transaction, Mike Radossich, Chief Executive Officer of Syensqo, highlighted the strategic importance of the divestment. He noted that concluding the sale at the beginning of the year sets a strong tone for the months ahead and reinforces the company’s strategic direction. According to Radossich, the transaction not only secures a favorable outcome for all stakeholders but also enables Syensqo to further refine its strategic focus and increase investment in businesses that are central to its future growth ambitions.
He also expressed appreciation for the employees of the Oil & Gas Business Unit, acknowledging their contributions and dedication over the years. Radossich extended his best wishes to colleagues as they join SNF Group and begin the next phase of their professional journey, signaling confidence that the business will continue to thrive under new ownership.
For SNF Group, the acquisition strengthens its presence in the oilfield stimulation chemicals market and expands its global footprint in energy-related applications. The transaction brings together complementary capabilities, product portfolios, and technical expertise, positioning SNF Group to serve customers with an even broader range of solutions.
Overall, the completion of this divestment reflects Syensqo’s disciplined approach to portfolio management and its determination to build a more focused, resilient, and growth-oriented specialty chemicals company. By concentrating resources on its core strengths, Syensqo aims to enhance long-term value creation while supporting innovation and sustainable development across its priority markets.
