Petroalianza International Ltd. acquired an additional 13% stake in Lupatech OFS S.A.S. from Lupatech S.A. for $1.7 million.

Lupatech SA, formerly Valmicro Industria e Comercio de Valvulas SA, is a Brazil-based company primarily engaged in the production of equipment for the oil and gas sector. The Company operates through two business segments: Products and Services. In the Products segment, the Company is involved in the manufacture of anchoring ropes for deepwater platforms; manual and automated valves used in the exploration, production, transportation and refining of oil and hydrocarbon chain; completion equipment for oil wells; fiber optic sensors and vehicular natural gas compressors; coatings for drilling and production tubes, and industrial valves for the chemical, pharmaceutical, pulp and paper, food and construction machinery, among others. In the Services segment, the Company provides offshore services, which include cleaning, repairing and maintenance of oil wells, as well as well intervention, coating, inspection of pipes and rental of equipment.