Petrex has been acquired by NOV

National-Oilwell Varco, Inc. (NYSE:NOV) acquired Petrex, Inc. (“Petrex”) on August 14, 2012. Chaffe Securities, Inc. (“Chaffe”) acted as Petrex’s financial advisor in this transaction.

Brian LaCour, President of Petrex, stated, “I was extremely pleased with the services provided by Chaffe, who guided us every step along the way throughout the entire process. They made a complex endeavor seem simple.”

Based in Harvey, LA, Petrex designs and builds modular process equipment for the petroleum, petrochemical and chemical industries.  Sold worldwide, the company’s equipment is in service in over twenty-one countries. Petrex has built its excellent reputation by producing high quality engineered equipment on time and on budget throughout its eighteen year history of operations.

National-Oilwell Varco, Inc. (NYSE: NOV) is a worldwide leader in the design, manufacture and sale of a wide array of systems, components, and products for oil and gas drilling and production operations.  The company is also engaged in the provisioning of oilfield services, and supply chain integration services to the upstream oil and gas industry. NOV was founded in 1862 and is headquartered in Houston, Texas.

Chaffe Securities, Inc. is a wholly owned subsidiary of Chaffe & Associates, Inc., an investment banking firm headquartered in New Orleans, Louisiana, with an additional office in Jackson, Mississippi. Chaffe regularly provides merger and acquisition services to clients which range from family owned businesses to publicly held corporations.

Securities transactions conducted through Chaffe Securities, Inc., member FINRA/SIPC.
For further information contact:
Frank deVay (504) 524-1801 or fdevay@chaffe-associates.com