Lufkin Industries Acquires US Rod and Patriot Pump

MISSOURI CITY,Texas,Dec. 1,2021 -- Lufkin Industries ("Lufkin"),a portfolio company of KPS Capital Partners,LP ("KPS"),announced today that it has completed the acquisitions of US Rod and Patriot Pump.

US Rod is a leading API-licensed manufacturer and provider of artificial lift products,including sucker rods,rod guides,couplings,pony rods,stabilizer and sinker bars. US Rod manufactures 100% US-made products at its state-of-the-art manufacturing facility in Nappanee,IN. US Rod has continuously invested in advanced automation and robotic systems to deliver the highest-quality products to its customers.

Patriot Pump,based in Williston,ND,is a leading provider of rod lift downhole products and services to the premier oil and gas operators in North Dakota,Montana,Colorado,and Kansas.

US Rod and Patriot Pump further enhance Lufkin's capabilities to provide its customers with fully-integrated rod pumping systems and a comprehensive suite of services,downhole pumps,beam pumping units,and automation,all backed by Lufkin's reputation for world-class quality and reliability.

Saeid Rahimian,CEO of Lufkin,said,"We are very pleased to acquire and integrate US Rod and Patriot Pump into Lufkin. These acquisitions strengthen Lufkin's portfolio of superior products and services and expand our outstanding,highly-experienced teams. In partnership with KPS and its substantial capital and resources,we look forward to continuing to grow the Lufkin platform in service of our customers."

Mike Shores,co-founder of US Rod and Patriot Pump,added,"The entire US Rod and Patriot Pump teams are thrilled to become a part of Lufkin,a legendary company and brand in our industry. We believe this is a terrific step for our customers,vendors,and employees,who will benefit from leveraging the experience of our combined team and Lufkin's brand name and extensive US and international distribution network."

About Lufkin Industries

Lufkin,headquartered in Missouri City,is a leading global provider of rod lift products,technologies,services and solutions,including automated control and optimization equipment and software for rod lift equipment to the oil and gas industry. With over 100 years of industry leadership,Lufkin manufactures a complete line of surface pumping units,downhole sucker rod pumps and automation systems worldwide. Lufkin has an extensive global service footprint that operates throughout the oil-producing world. For more information on Lufkin,visit www.lufkin.com.