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Road Science LLC, the asphalt technology company that survived the bankruptcy of former parent SemGroup LP three years ago, has been sold to Florida-based manufacturer ArrMaz Custom Chemicals Inc., the two firms confirmed Friday.
Formed after Rhone Midstream bought the branded products division from SemGroup's SemMaterials unit, Road Science LLC started up two years ago at the former SemMaterials campus at 6502 S. Yale Ave. The company tests and markets various trademarked road paving and treatment products.
Road Science employed 55 people at the south Tulsa campus late last year, but 16 were laid off in January because of tough economic conditions in the industry.
ArrMaz leadership would not comment on rumors of layoffs, saying that "most" Road Science employees were retained. The company will keep its name and the Tulsa offices, Patrick Lavin, asphalt additives division president at ArrMaz, said in a statement.
The Florida firm will merge its asphalt additives division with the Road Science research and development assets. Several ArrMax senior managers will be relocated from the Mulberry, Fla., corporate offices to Tulsa, Lavin added.
ArrMaz bought the company from funds managed by Ritchie Capital, a former SemGroup investor.
Rod Walton 918-581-8457
firstname.lastname@example.org SUBHEAD: Road Science is a survivor of the 2008 SemGroup bankruptcy.
Original Print Headline: Road Science acquired by ArrMaz