M&A moves

Houston chemical company divests new tech arm to PE

Merichem Company has created a new business unit that's been acquired by a private equity firm. Photo via Getty Images

A New Orleans-based private equity firm has announced the acquisition of a Houston chemical company's technology business unit, the business announced today.

Black Bay Energy Capital acquired a portion of Merichem Company’s business — including its Merichem Process Technologies and Merichem Catalyst Products, which will collectively be renamed Merichem Technologies. Merichem's caustic services business, which handles spent caustic for beneficial reuse, will be maintained by the company.

Cyndie Fredrick has been promoted to CEO of Merichem Technologies. She previously served as Merichem's senior vice president and general manager of Merichem Process Technologies. She's joined by CFO Rene Campos, Senior Vice President of Technology Jeff Gomach, and Senior Vice President of Catalysts William Rouleau, who are all former managers within Merichem.

“The Merichem Technologies team has successfully deployed highly engineered and patented technologies, chemical catalysts, and mechanical solutions to various end markets including liquified natural gas, midstream oil and gas, refining of traditional crude and renewable feedstocks, biogas/landfill/RNG production, geothermal energy production, and chemical manufacturing," Fredrick says in a news release. "Merichem Company has been a fantastic steward of this business for decades, and the entire Merichem Technologies team is excited about our new partnership with Black Bay and the ability to pursue new avenues for growth.”

Additionally, Merichem Company's CEO Kendra Lee will join the Merichem Technologies board. Lee's grandfather founded the company in 1945, and she told EnergyCapital last year that she hopes to continue the legacy of the company, which designs and fabricates equipment for sulfur removal.

“Our reputation has always stood on the principles of proven performance, unsurpassed expertise, and an uncommon commitment to our customers," Lee says in the release. "This divesture is a major milestone for Merichem Company as we continue to execute on our strategic vision, further cementing our leadership position in caustic services.”

Black Bay focuses on the energy and specialty chemical sectors, but the Merichem Technologies acquisition brings a new sulfur-treating platform to the firm.

“Sulfur treatment is a critical path item across many industrial applications around the world. Hydrogen sulfide, mercaptans, carbon dioxide, and other related impurities must be dealt with to ensure environmental compliance, sustainable operations, and a saleable end product," Tom Ambrose, partner of Black Bay, says in the release.

Trending News

 

A View From HETI

Oxy CEO Vicki Hollub (center) is the first woman to win WPC Energy's Dewhurst Award. Photo via 1pointfive.com

Vicki Hollub, president and CEO of Houston-based Occidental (Oxy), has become the first woman to win WPC Energy’s prestigious Dewhurst Award.

Hollub is the thirteenth recipient of the award, which is considered the highest honor from WPC Energy, a global, non-advocacy, non-political nonprofit organization that promotes the sustainable management of energy and energy products. She is just the fourth U.S. winner since the award launched in 1991. Other U.S. winners include former ExxonMobil CEO Rex Tillerson; Daniel Yergin, vice chairman of S&P Global and chairman of CERAWeek; and former chairman and CEO of Chevron Kenneth Derr.

According to WPC Energy, the Dewhurst Award is given to “exceptional individuals whose leadership and contributions have had a lasting impact on the global energy industry.” It is named after Thomas Dewhurst, who organised the first WPC Energy Congress, formerly the World Petroleum Congress, in 1933.

Oxy works to advance low-carbon technologies, reduce emissions and is leading a number of energy transition projects. Its Oxy Innovation Center is housed in Houston’s The Ion.

Hollub has held a variety of roles in her 40-year career with Occidental, including chief operating officer and senior executive vice president. She also led strategic acquisitions for Occidental of Anadarko Petroleum in 2019 and CrownRock in 2024, and serves on the boards of Lockheed Martin and the American Petroleum Institute. She is one of the first women to lead a major U.S. oil and gas company.

“Vicki Hollub’s visionary leadership and unwavering dedication to innovation and sustainability have set a benchmark for excellence in our industry,” Pedro Miras, WPC Energy President, said in a news release. “She embodies the spirit of the Dewhurst Award—forward-looking, courageous and deeply committed to advancing the global energy dialogue. Her contributions continue to inspire the next generation of energy leaders.”

Hollub will receive the award in April 2026 in Riyadh, Saudi Arabia at the 25th WPC Energy Congress, where she will also present the Dewhurst Lecture.

“I am honored to be selected for the Dewhurst Award and appreciate WPC Energy recognizing our company’s achievements,” Hollub added in the release. “The Dewhurst Award reflects the collective efforts of the talented and dedicated team at Oxy, whose commitment to innovation, operational and technical excellence, and sustainability drives our success.”

Trending News