Red Sky Holdings LP, and Newpark Resources, Inc., In the Matter of

Last Updated:
In the Matter of Red Sky Holdings LP, a limited partnership, and Newpark Resources, Inc., a corporation.
FTC Matter/File Number:

0810170

Docket Number:

9333

Enforcement Type:

Federal Injunctions

Federal Court:
Southern District of Texas

Case Summary

The Commission issued an administrative complaint to block CCS Corporation’s proposed $85 million acquisition of Newpark Environmental Services. According to the complaint, the proposed transaction was anticompetitive because it would consolidate two of the leading providers of waste disposal services for the offshore oil and natural gas exploration and production industry in the Gulf Coast Region, leading to higher prices and decreased service levels. In response to the complaint, CCS, a subsidiary of Red Sky, threatened to close down its operations in the Gulf Coast should the acquisition not receive the necessary regulatory approvals. The Commission filed for a preliminary injunction, and temporary restraining order in federal court. As a result, the parties abandoned the transaction, and the Commission dismissed its administrative complaint.