Clear Solutions

We’re pleased to have advised the shareholders of Clear Solutions, a Shropshire developer and manufacturer of drilling fluids, on its sale to Texas-based chemicals distributor Shrieve.

Founded in 2003 and based in Wem, Shropshire, Clear Solutions specialises in water-based drilling fluid systems and supplies customers working on oil and gas, geothermal energy, tunnelling and well abandonment projects across the UK, Europe and North America. Its proprietary Pure-Bore^® additive forms the basis of these systems and helps to reduce fresh water use and waste disposal costs by allowing wastewater to be reused in the drilling process.

Shrieve, which is backed by US private equity firm, Gemspring Capital, is a leading value-added chemicals distributor headquartered in Texas. It works between suppliers and customers to match products to their applications, marketing nearly 1,500 products across more than 40 countries through four operating segments covering industrial distribution, specialty distribution, specialty lubricants and energy products and services.

This deal brings Clear Solutions’ expertise in developing and manufacturing drilling fluids together with Shrieve’s international reach as a chemicals distributor. Joining the group will help Clear Solutions to take its Pure-Bore^® range to more customers and expand Shrieve’s energy products and services portfolio. The combined business will be able to offer a broader range of products and technical solutions for drilling and underground construction.

Our Corporate Finance team, led by our Manchester and London offices, advised Clear Solutions from the offer stage through to completion. This included supporting the business through negotiations and due diligence, as well as project management of the deal workstreams and the wider group of advisers on both sides of the Atlantic.

Simon Davies, Consultant Partner at FRP Corporate Finance, said: “Clear Solutions varied offering perfectly complements Shrieve’s plans for growth. Access to its international network gives both businesses the chance to reach more customers.

“It’s been a pleasure to continue working with the Clear Solutions team, and I’m excited see where this next step takes them.”

Daniel Brecker, Partner at FRP Corporate Finance, said: “Clear Solutions has spent more than two decades building deep technical expertise in drilling fluids, and that has earned the business strong relationships with customers working on some of the most demanding drilling and underground construction projects.

“As investment in geothermal energy and infrastructure grows, demand for drilling solutions that keeps both costs and environmental impact down will grow with it, and Shrieve’s global distribution network gives Clear Solutions the means to make the most of that.  This deal demonstrated FRP’s cross-office capabilities, combining Simon Davies’s longstanding management relationship with the local resource and sector experience of the Manchester FRP team to deliver the transaction at pace. It was great to advise the shareholders of Clear Solutions, and I look forward to seeing what it achieves as part of the group.”

Glynn Williams, President of Clear Solutions, added: “Shrieve’s commitment to growth, innovation, and customer service makes it an ideal partner for Clear Solutions. Together, we can leverage our complementary strengths to expand the reach of the Pure-Bore^® product family while continuing to deliver the quality and technical support our customers expect.

“Simon and the FRP Manchester Corporate Finance team have been a huge support throughout this transaction. Their advice during negotiations and due diligence has been invaluable, and we’re grateful for their help in getting the deal over the line.”