LongRange Capital announced on July 21, 2025, that it has completed its acquisition of US Synthetic Corporation from ChampionX Corporation. This transaction finalizes the divestiture of ChampionX's Drilling Technologies segment, which was a key part of its strategic portfolio optimization.
US Synthetic, a provider of highly engineered polycrystalline diamond (PCD) technologies, will now operate as a standalone business under LongRange Capital's ownership. This completion follows the earlier definitive agreement between ChampionX and LongRange Capital.
The successful divestiture allows ChampionX to further streamline its operations and focus on its core chemistry solutions and production optimization technologies. This strategic move was also a condition for the broader merger between ChampionX and Schlumberger Limited, which recently closed.
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