[Editor's note: A version of this story appears in the July 2021 issue of Oil and Gas Investor magazine.]
About this time last year, when most businesses were scrambling to survive due to the pandemic, one company was defying the downturn and hitting the right notes with a strategic merger focused on higher exposure to longer cycle markets. One year later, ChampionX—a merger of Apergy and Ecolab’s upstream energy business—is on track to maximize potential integration benefits and achieve targeted cost synergies of $125 million within 24 months of the merger.
“As we close in on the one-year anniversary of our transformational merger of legacy Apergy and legacy ChampionX, our first-quarter results further demonstrate the geographic breadth and resiliency of our combined business portfolio and the strong free cash flow generation capacity of the company,” said ChampionX president and CEO Soma Somasundaram, during the company’s first-quarter earnings call.
Under the bold vision and leadership of Somasundaram, ChampionX has quickly asserted itself as a premier oilfield service (OFS) company and is on track to become one of the best-positioned companies as macro tailwinds build.