Newpark Resources to Sell Fluids-Systems Unit to SCF Partners

Dow Jones09-14

By Sabela Ojea

Newpark Resources is selling its fluids-systems unit to private equity firm SCF Partners.

Sustainable-technology provider Newpark on Friday said the final purchase price remains subject to customary adjustments. The net sale transaction consideration is $56 million.

The Woodlands, Texas, company said it expects to book a loss from the sale, and expects to generate U.S. federal new operating loss tax benefits of about $7 million to $10 million.

The company also said that its U.S. asset-based revolving credit facility has been amended as a result of the sale, reducing the facility size to $100 million from $175 million.

Write to Sabela Ojea at sabela.ojea@wsj.com

(END) Dow Jones Newswires

September 13, 2024 16:40 ET (20:40 GMT)

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