Argonaut Acquires BJ Services' Cementing Business, Rebrands American Cementing

Updated 1 year ago

Argonaut Private Equity announced the acquisition of a cementing solutions business following the Chapter 11 bankruptcy of BJ Services. Originally established in 1872, the cementing operation is now doing business as American Cementing. The company will retain 260 employees as well as equipment including bulk plants and technical labs located in the field. No fracturing assets were included in the acquisition, but the company did retain acidizing services. Simmons Energy served as an exclusive advisor to BJ Services.