The firm is pleased to announce that it has represented Florida Chemical, a 71-year-old citrus oils processing company in Winter Haven Florida in its acquisition by Texas-based Flotek Industries, Inc. (FTK) in a cash-and-stock deal valued at about $102.5 million. Flotek is an international supplier of products and services for the oil industry. Florida Chemical, which has facilities in Florida and Texas, has been a supplier and partner to Flotek for more than 15 years. Since its founding in 1942, Florida Chemical has been an innovator in creating high performance, bio-based products for a variety of industries, including applications in the oil and gas business. Under the terms of the Agreement, Flotek paid $49.5 million in cash and 3,284,180 shares of Flotek common stock for the outstanding shares of Florida Chemical. Key lawyers involved in representing Florida Chemical were James J. Hoctor, Amanda Wilson and Jason S. Rimes.
May 30, 2013