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Lufkin Industries, a portfolio company of KPS Capital Partners, LP, announced that it has completed the acquisition of the North American Land Rod Lift Business of Schlumberger N.V.
Schlumberger's Rod Lift Business is a large provider of rod lift products and services in North America (onshore) with brands including Don-Nan, Shores Lift Solutions, KBA Engineering, Platinum Pumpjack Services, and RLC Rod Lift Consulting. The Business provides its customers with a full product offering, including downhole pumps and accessories, beam pumping units, sucker rods, and gas lift products. The Rod Lift Business has significant manufacturing and distribution capacity and has developed differentiated technology offerings, including the proprietary PumpTrak software.
Lufkin became an independent company after being acquired by KPS from Baker Hughes on June 30, 2020. Lufkin, headquartered in Missouri City, Texas, is a global provider of rod lift products, technologies, services and solutions, including automated control and optimization equipment and software for rod lift equipment to the oil and gas industry. Lufkin manufactures a complete line of surface pumping units, downhole sucker rod pumps and automation systems in six manufacturing and assembly facilities worldwide. Lufkin has a global service footprint that operates throughout the oil-producing world.