HOUSTON, TEXAS — Petroleum Analyzer Company, LP (PAC) is pleased to announce its acquisition of Icon Scientific Limited (Icon). Icon will be integrated into PAC’s Process Solutions business, fortifying PAC’s leadership in physical property analysis for midstream and downstream processing applications.

“The inclusion of Icon in the PAC portfolio aligns perfectly with our vision of becoming the world’s leading analytical solutions provider customers trust for insights and innovation to drive efficiency. The consolidation of PAC and Icon portfolios enables us to harness our combined innovation capabilities, industry knowledge and application expertise to offer our customers a compelling and unique suite of online analysis solutions to drive process efficiency, supported by best-in-class, global customer service.”

• Pete Morris, President of PAC

PAC is in the business of moving the world forward, safely and sustainably. We do that by designing, manufacturing, globally distributing, and servicing the innovative analytical instruments of our leading brands. This uniquely helps the world ensure a reliable supply of both traditional and renewable sources of energy, as well as upward mobility of life experiences through petrochemicals both in laboratory and process environments.

Process Solutions by PAC is focused on serving our customers with a wide range of state-of-the-art and market leading online analyzers that provide accurate and precise real-time measurements, enabling optimization of process efficiency.

Icon Scientific is a technology-driven manufacturing company with a highly innovative range of EX-certified analyzers for midstream and downstream processing applications.

“Aligning with PAC and integrating our cutting-edge technology into PAC’s portfolio puts us in the ideal environment to grow the Icon platform, make our products and solutions available to more customers, and enhance our ability to support our customers globally.”

• Kevin Fogarty, Founder and Managing Director of Icon Scientific

The acquisition of Icon further enhances PAC’s high-growth sustainability portfolio through Icon’s one-of-a-kind ethanol blending solution. This technology leverages automation and high-precision capabilities to eliminate uncertainty in the gasoline blending process, enabling refineries to achieve online certification of the final product.

“The inclusion of Icon’s proprietary blending technology in PAC’s Process Solutions affords us the opportunity to create an online process ecosystem for our petrochemical, pipeline, terminal, and refinery customers. We will be able to meet customer needs both now and through the long-term energy transition to more sustainable energy alternatives.”

• Patrick Riley, Vice President of Process Solutions

The combination of the companies’ portfolios will provide a comprehensive suite of advanced, online analyzer solutions focused on driving customer efficiency and profitability.

“We are proud to welcome Icon to our team and look forward to delivering continuous growth and innovation as we move the world forward safely and sustainably.”

• Pete Morris

The transaction is expected to close in the second half of 2023, subject to customary closing conditions, including receipt of certain regulatory approvals.

ABOUT

PAC is a leading global manufacturer of advanced analytical instruments, delivering solutions for the petrochemical, hydrocarbon, process, aviation, packaging, pharmaceutical, renewable fuel, and medical device industries since 1931. PAC is headquartered in Houston, Texas and is a subsidiary of Indicor, LLC.

Located in Bath, England, Icon Scientific was founded in 2009 and is a technology-driven manufacturing company with a highly innovative range of proprietary explosion-proof, certified blending optimizers, and physical property analyzers for midstream and downstream processing applications.