The acquired business provides drilling fluids and engineering services to the oil and gas exploration and geothermal industries with operations in Australia, New Zealand and India.
Newpark paid A$23.8m ($25.56m) in cash at closing, subject to typical future adjustments for working capital.
Additional consideration may be payable based on financial results of the acquired business over a one-year earn-out period, up to a maximum total consideration of A$45m ($48.34m).
Newpark president and CEO Paul Howes said this acquisition gives the company an important footprint in the growing Asia Pacific region and supports the continued global expansion of its drilling fluids operations.
