Lufkin Industries
| Company type | Private |
|---|---|
| Industry | Manufacturing, Oil and gas equipment |
| Founded | 1902 |
| Headquarters | Missouri City, Texas , United States |
| Products | Rod lift systems, automated control and optimization technologies, software for oil and gas sector |
Number of employees | 3800 (1980s) |
| Parent | KPS Capital Partners, LP (since 2020) |
Lufkin Industries is a U.S.-based manufacturing firm established in 1902, with its main office located in Missouri City, Texas. The company focuses on producing rod lift systems, alongside automated control and optimization technologies and software tailored for the oil and gas sector. Lufkin remained an independent entity until its purchase by GE Oil & Gas in July 2013. Subsequently, GE Oil & Gas merged with Baker Hughes, creating Baker Hughes, a GE Company (BHGE). On June 30, 2020, KPS Capital Partners, LP finalized the acquisition of Lufkin Industries from Baker Hughes.
History
The company was founded in 1902 under the name The Lufkin Foundry and Machine Company in Lufkin, Texas. Initially, it focused on repairing sawmill machinery before broadening its scope to manufacturing equipment for sawmills and servicing locomotives. As the lumber industry in East Texas waned, Lufkin transitioned toward producing equipment for oil drilling and refining. By the 1930s, the firm had incorporated an iron foundry and expanded its product line to include truck trailers and industrial gears. During World War II, the company concentrated on manufacturing gears for military vehicles. After the war, sales of oilfield equipment diminished while demand for trailers and industrial gears increased. In 1970, after rebranding as Lufkin Industries, it structured operations into three divisions: Machinery, Trailer, and Automotive/Industrial Supplies. Throughout the 1970s into the early 1980s, the company grew substantially, employing approximately 3,800 people and generating annual revenues surpassing $364 million.
In 2013, General Electric purchased Lufkin for $3.3 billion. On June 30, 2020, Lufkin became independent once again when Baker Hughes divested its Rod Lift Systems segment. Meanwhile, the former Lufkin Power Transmission Division (now Lufkin Gears LLC) stayed within Baker Hughes as a separate business unit under its Turbomachinery & Process Solutions division.
Oil equipment
Lufkin’s core competency lies in manufacturing equipment for the oil and gas industry, including fully automated rod lift systems and other artificial lift technologies engineered to enhance extraction from difficult reservoirs.