Praana Group Finalizes Acquisition of Multi-Chem

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"By combining Multi-Chem's field-driven solutions supporting upstream drilling, completion and production operations, as well as midstream flow assurance and downstream process and asset integrity programs, with Sterling Specialty Chemicals' manufacturing scale and specialty chemistry capabilities, we will expand our geographic reach and strengthen our ability to deliver high-value solutions across the energy sector." - Vishal Goenka, Vice Chairman - Praana Group

May 2026 : Praana Group has officially completed its acquisition of Multi-Chem, a powerhouse in the oilfield chemicals sector. Now operating under the new identity of Sterling MultiChem, the business joins the Sterling Specialty Chemicals platform, signaling a major expansion in Praana’s energy-sector capabilities.

By combining Sterling’s advanced polymer technologies and surfactant systems with Multi-Chem’s hands-on experience in complex oil and gas environments, the group is now uniquely positioned to support operators from the initial drilling stage all the way to downstream processing.

Multi-Chem has long been a trusted name for tackling the "tough stuff" - the complex corrosion, scale management, and flow assurance challenges that can make or break an energy asset’s performance. With a state-of-the-art facility in Jubail, Saudi Arabia, the newly minted Sterling MultiChem brings specialized chemistry to the heart of the global energy market.

Vishal Goenka, Vice Chairman of Praana Group, highlighted the strategic logic behind the move: "This acquisition aligns with Praana Group's long-term strategy of strengthening its global specialty chemicals platform through technology leadership, manufacturing excellence, and strong customer partnerships. Multi-Chem has developed a strong reputation for delivering high-performance oilfield chemical solutions and field expertise across complex operating environments."

The acquisition isn't just about expanding a portfolio; it's about the people and the technology that keep global infrastructure running smoothly. Goenka further emphasized the synergy, stating: "By combining Multi-Chem's field-driven solutions supporting upstream drilling, completion and production operations, as well as midstream flow assurance and downstream process and asset integrity programs, with Sterling Specialty Chemicals' manufacturing scale and specialty chemistry capabilities, we will expand our geographic reach and strengthen our ability to deliver high-value solutions across the energy sector."

As integration moves forward, Sterling Specialty Chemicals has pledged to maintain operational continuity, ensuring that customers experience a seamless transition while gaining access to an even deeper well of technical support.

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