Gemspring-backed Shrieve acquires Clear Solutions

Shrieve Chemical Company, a Gemspring Capital portfolio company, said it acquired Clear Solutions International, a UK developer and manufacturer of water-based drilling fluid systems. Terms of the transaction were not disclosed.

Founded in 2003 and based in Wem, England, Clear Solutions markets its Pure-Bore line of environmentally compliant drilling fluids to oil and gas, geothermal, tunneling, mining, geotechnical, well abandonment and horizontal directional drilling customers in the UK, Europe and North America.

Shrieve said the deal adds to its Energy Products and Services segment and widens its reach in energy and infrastructure markets. CEO Joey Gullion cited the Pure-Bore technology platform and customer relationships as strategic fits; Clear Solutions President Glynn Williams said the combined companies can extend the product family's reach.