The drilling fluids industry in the DACH region plays a crucial role in the oil and gas sector, providing essential materials that facilitate the extraction of resources from deep within the Earth. Various companies operate here, including chemical manufacturers, engineering firms, and venture capitalists focused on innovation in fluid technologies. This sector continuously evolves, driven by demands for more efficient, sustainable solutions amid the ongoing energy transition. Amid challenges like regulatory pressures and environmental concerns, development toward eco-friendly drilling fluids is becoming increasingly common, allowing businesses to adapt to modern energy requirements while maximizing operational efficiency.

The investors featured in this list span multiple types including corporate, private equity, and venture capital firms. They are headquartered in key cities such as Baar, Zurich, and Essen, showcasing a strong presence across Germany, Austria, and Switzerland. With sizes ranging from small to large enterprises, these investors were established as early as the 1800s. In 2024, they completed a total of 46 deals, demonstrating an active engagement in the drilling fluids sector and its related technologies, as they look to capitalize on growth opportunities within this essential industry.

Top 12 Drilling Fluids Investors in DACH

1. Brenntag

• Website: brenntag.com
• Type: Corporate
• Headquarters: Essen, North Rhine-Westphalia, Germany
• Founded year: 1874
• Headcount: 10001+
• Number of deals in 2024: 8
• LinkedIn: brenntag

Brenntag SE, founded in 1874 and headquartered in Essen, North Rhine-Westphalia, Germany, is a leading chemical distributor that connects chemical manufacturers with users across various industries. With a workforce of over 10,000 employees, Brenntag serves approximately 195,000 customers globally, providing a wide range of specialty and industrial chemicals along with value-added services. The company has made significant strides in the oil & gas sector, as evidenced by its acquisition of the lubricants division of Reeder Distributors, which has annual sales of approximately $60 million. Additionally, Brenntag's joint venture with Raj Petro Specialities Pvt. Ltd. aims to enhance its footprint in the Indian chemical distribution market, which is crucial for chemicals and lubricants. These transactions highlight Brenntag's commitment to expanding its capabilities in sectors that are relevant to drilling fluids, making it a key player in the industry.

2. Sika

• Website: sika.com
• Type: Corporate
• Headquarters: Baar, Zug, Switzerland
• Founded year: 1910
• Headcount: 10001+
• Number of deals in 2024: 2
• LinkedIn: sika

Sika AG is a specialty chemicals company founded in 1910, headquartered in Baar, Zug, Switzerland. With a global presence in 103 countries, Sika develops and produces innovative solutions primarily for the construction and industrial sectors. Their product range includes concrete admixtures, waterproofing systems, and flooring solutions, catering mainly to construction companies and contractors. Recently, Sika has made strategic acquisitions to enhance its market position, including the acquisition of Thiessen Team USA in July 2023, which specializes in shotcrete and grouting products for the mining industry. This move aims to strengthen Sika's presence in the US mining market, indicating a growing interest in sectors that may utilize drilling fluids. Other notable acquisitions include EMSEAL Joint Systems, Cromar Building Products, Technokolla, and Adeplast SA, which further diversify Sika's product offerings in construction materials. These transactions reflect Sika's commitment to expanding its capabilities and market reach, potentially aligning with the drilling fluids industry.

3. Glencore

• Website: glencore.com
• Type: Corporate
• Headquarters: Baar, Zug, Switzerland
• Founded year: 1978
• Headcount: 10001+
• Number of deals in 2024: 3
• LinkedIn: glencore

Glencore plc is a multinational commodity trading and mining company based in Baar, Zug, Switzerland, founded in 1978. With over 10,000 employees, Glencore operates across various sectors, including metals, minerals, and energy. The company is known for supplying essential commodities such as copper, cobalt, and oil to businesses and organizations, supporting their production and manufacturing needs. In recent years, Glencore has been involved in significant transactions that highlight its engagement in the energy sector, such as its investment in Tullow Oil, which raised $400 million in Post-IPO Debt in November 2023. This investment indicates Glencore's interest in the oil industry, where drilling fluids play a crucial role. Additionally, Glencore's acquisition of Astron Energy and Astron Botswana in 2019 further emphasizes its commitment to expanding its footprint in the energy market. While Glencore is primarily focused on commodity trading and mining, its activities in the energy sector suggest a potential relevance to the drilling fluids industry.

4. BASF Venture Capital

• Website: basf.de
• Type: Corporate
• Headquarters: Ludwigshafen, Rhineland-Palatinate, Germany
• Founded year: 2001
• Headcount: 10001+
• Number of deals in 2024: 3
• LinkedIn: basf

BASF Venture Capital, based in Ludwigshafen, Rhineland-Palatinate, Germany, is a corporate investor founded in 2001. As a subsidiary of BASF, a leading chemical manufacturer, the firm invests in innovative companies across various industries, including automotive, construction, and agriculture. BASF is committed to sustainability and innovation, aiming to enhance product performance while addressing environmental challenges. Notable transactions include investments in Aspen Aerogels and Solidia Technologies, where they participated in funding rounds that focus on advanced materials and sustainable technologies. Although these transactions do not directly relate to drilling fluids, BASF's expertise in chemical solutions positions them as a potential investor in this sector, particularly in the context of developing environmentally friendly drilling fluids.

5. Georg Fischer

• Website: georgfischer.com
• Type: Corporate
• Headquarters: Schaffhausen, Schaffhausen, Switzerland
• Founded year: 1802
• Headcount: 10001+
• LinkedIn: georg-fischer

Georg Fischer Ltd, founded in 1802 and based in Schaffhausen, Switzerland, is a manufacturing company that specializes in innovative solutions across various sectors, including piping systems, building flow solutions, casting, and machining. The company serves a diverse clientele, including municipalities and industries such as automotive and aerospace, with a focus on efficiency and sustainability. Notably, Georg Fischer has been active in the oil and gas sector, exemplified by its investment in Oxford Flow, which raised £8.45m to accelerate product development for oil and gas applications. This investment highlights Georg Fischer's strategic interest in enhancing its offerings in the energy sector. Furthermore, their acquisitions, such as Central Plastics and Alfa Plastics, bolster their capabilities in managing piping systems, which are critical in drilling operations. These transactions reflect Georg Fischer's commitment to expanding its influence in industries that intersect with drilling fluids and related technologies.

6. Sulzer

• Website: sulzer.com
• Type: Corporate
• Headquarters: Winterthur, Zurich, Switzerland
• Founded year: 1834
• Headcount: 10001+
• LinkedIn: sulzer

Sulzer Ltd. is an industrial engineering and manufacturing company based in Winterthur, Zurich, Switzerland, founded in 1834. The company specializes in fluid engineering solutions, providing a wide range of products and services, including pumps, compressors, and aeration systems. Sulzer serves various sectors, including water treatment, oil and gas, and power generation, with a strong emphasis on innovation and sustainability. Notably, Sulzer has made strategic acquisitions to enhance its capabilities in the oil and gas sector, such as the acquisition of ProlabNL B.V. in 2014, which bolstered its offerings in multiphase flow loop technology used by leading oil and gas companies. This acquisition reflects Sulzer's commitment to improving operational efficiency in the drilling fluids context. Other acquisitions, such as JWC Environmental, further demonstrate Sulzer's focus on expanding its market presence in sectors related to fluid management.

7. Partners Group

• Website: partnersgroup.com
• Type: Private Equity
• Headquarters: Baar, Zug, Switzerland
• Founded year: 1996
• Headcount: 1001-5000
• Number of deals in 2024: 19
• LinkedIn: partners-group

Partners Group Holding AG is a prominent investment management firm based in Baar, Zug, Switzerland, specializing in private equity, private infrastructure, private real estate, and private debt. Founded in 1996, the firm manages over USD 149 billion in assets and is recognized for its innovative investment strategies and commitment to sustainability. Recently, Partners Group announced the acquisition of ROSEN Group, a European engineering firm that specializes in testing oil and gas assets, which aligns with the drilling fluids industry. This acquisition highlights their active role in sectors related to oil and gas, further supporting their relevance in the drilling fluids market. Additionally, their diverse portfolio includes investments in various industries, showcasing their capability to navigate complex investment landscapes.

8. bmp Ventures

• Website: bmp.com
• Type: Venture Capital
• Headquarters: Berlin, Berlin, Germany
• Founded year: 1997
• Headcount: 11-50
• Number of deals in 2024: 3
• LinkedIn: bmpventures

bmp Ventures AG is a venture capital firm based in Berlin, Germany, founded in 1997. The firm specializes in investing in early-stage and growth startups across various innovative sectors, providing not only financial resources but also strategic advisory services to help startups navigate their growth journey. Notably, bmp Ventures has invested in intelligent fluids GmbH, a company that raised funds in 2013 and 2016, indicating their active participation in the drilling fluids industry. This investment aligns with their focus on tech companies and innovative solutions, showcasing their commitment to supporting businesses that contribute to advancements in drilling fluids and related technologies.

9. Evonik Venture Capital

• Website: venturing.evonik.com
• Type: Venture Capital
• Headquarters: Hanau, Hesse, Germany
• Founded year: 2012
• Headcount: 11-50
• Number of deals in 2024: 3
• LinkedIn: evonik

Evonik Venture Capital is a corporate venture capital unit of Evonik Industries, founded in 2012 and based in Hanau, Hesse, Germany. The firm specializes in investments in innovative start-ups within the specialty chemicals sector, focusing on providing financial support, mentorship, and access to a broad network of industry experts to help start-ups grow and succeed. Evonik operates globally with a strong emphasis on sustainability and innovative technologies. Notable transactions include investments in Strohm, a manufacturer of thermoplastic composite pipes, which are relevant for offshore applications, and FRX Innovations, known for environmentally friendly flame retardant plastics. While these companies do not directly produce drilling fluids, their technologies could intersect with the needs of the drilling industry, particularly in terms of sustainability and advanced materials.

10. CNB Capital

• Website: cnb.capital
• Type: Venture Capital
• Headquarters: Vienna, Vienna, Austria
• Founded year: 2013
• Headcount: 1-10
• Number of deals in 2024: 2
• LinkedIn: constantia-new-business

CNB Capital is a venture capital firm based in Vienna, Austria, founded in 2013. The firm specializes in supporting technology-driven startups through seed capital and strategic partnerships. CNB Capital works closely with entrepreneurs to help them navigate market challenges and achieve growth. Their portfolio includes a diverse range of innovative companies across various technology sectors. Notably, CNB Capital has invested in FDX Fluid Dynamix, a company that operates within the drilling fluids industry, indicating their engagement in this sector. Additionally, they have participated in funding rounds for other technology companies, such as watttron and WPX Faserkeramik, showcasing their commitment to advancing technological innovations. This diverse investment strategy positions CNB Capital as a versatile player in the venture capital landscape.

11. LBBW Venture Capital GmbH

• Website: lbbwvc.de
• Type: Venture Capital
• Headquarters: Stuttgart, Baden-Württemberg, Germany
• Founded year: 1998
• Headcount: 1-10
• Number of deals in 2024: 5
• LinkedIn: lbbw-venture-capital-gmbh

LBBW Venture Capital GmbH is a venture capital firm based in Stuttgart, Baden-Württemberg, Germany, founded in 1998. The firm specializes in investing in early-stage disruptive IT and life science companies, providing both capital and strategic support to entrepreneurs. Their investment focus includes sectors such as AI, IoT, and healthcare technology. Notably, LBBW Venture Capital has participated in significant transactions, including a Series B investment in intelligent fluids GmbH, which raised $1,700,000 in March 2011. This investment highlights their engagement in the drilling fluids sector, showcasing their willingness to support companies that operate within this industry, alongside their broader investment strategy.

12. Cape Capital

• Website: capecapital.com
• Type: Private Equity
• Headquarters: Zurich, Zurich, Switzerland
• Founded year: 2002
• Headcount: 11-50
• Number of deals in 2024: 2
• LinkedIn: capecapital

Cape Capital is a private equity firm based in Zurich, Switzerland, founded in 2002. The firm specializes in wealth management and offers personalized advisory services and investment solutions to individuals, families, and organizations. With a focus on tailored investment opportunities, Cape Capital helps clients achieve their financial goals through a range of funds and investment strategies. Notably, Cape Capital was involved in the acquisition of Diedrich Drill in June 2016, a company that manufactures drill rigs and tooling. This transaction highlights their engagement in the drilling industry, which is relevant to the drilling fluids sector, as drilling fluids are essential for the operation of drilling rigs.

Drilling Fluids Insights: Key Investors in DACH

Investor	Headquarter	Size	Founded	Deals 2024
Brenntag	Essen, North Rhine-Westphalia, Germany	10001+	1874	8
Sika	Baar, Zug, Switzerland	10001+	1910	2
Glencore	Baar, Zug, Switzerland	10001+	1978	3
BASF Venture Capital	Ludwigshafen, Rhineland-Palatinate, Germany	10001+	2001	3
Georg Fischer	Schaffhausen, Schaffhausen, Switzerland	10001+	1802	0
Sulzer	Winterthur, Zurich, Switzerland	10001+	1834	0
Partners Group	Baar, Zug, Switzerland	1001-5000	1996	19
bmp Ventures	Berlin, Berlin, Germany	11-50	1997	3
Evonik Venture Capital	Hanau, Hesse, Germany	11-50	2012	3
CNB Capital	Vienna, Vienna, Austria	1-10	2013	2
LBBW Venture Capital GmbH	Stuttgart, Baden-Württemberg, Germany	1-10	1998	5
Cape Capital	Zurich, Zurich, Switzerland	11-50	2002	2

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