Lariat agreed to buy the Newpark unit for $100 million. The deal is expected to close by the end of the first quarter of this year.
The environmental services business will merge with Lariat's existing Offshore Cleaning Systems, a leading cleaning-services provider in the Gulf of Mexico.
The merged unit has been dubbed Ecoserv - "a one-of-a-kind, integrated, turnkey environmental cleaning and waste disposal services provider", according to Lariat.
Ecoserv
