FUCHS Acquires Industrial Oils Specialist in The U.S.
FUCHS PETROLUB SE, which operates globally in the lubricants sector, is acquiring ULTRACHEM INC. The Delaware-based company is well known as producer and marketer of specialty synthetic lubricants for the compressor OEM and industrial maintenance markets for over 40 years.
With this acquisition the FUCHS PETROLUB Group expands its portfolio in the field of industrial specialty lubricants in the U.S. The business will continue to be operated out of its New Castle Delaware location.
ULTRACHEM employs 25 people and generated sales of €15.35 mn in its fiscal year 2015/2016, almost all of that in North America.
“Industrial oils specialties is a core focus product segment and has been an area of interest to us for quite some time. FUCHS has a leading position in Europe and we will use ULTRACHEM as a nucleus to grow the business in the United States.” said Steve Puffpaff, CEO of FUCHS LUBRICANTS COMPANY. “The acquisition, and especially the ULTRACHEM team, will significantly enlarge our existing business and will help to grow it using FUCHS know-how and marketplace presence. .”
The parties expect that the transaction will be effective August 1, 2016.
In 2015, the FUCHS Group accounted for €2.1 bn sales with staff of 4,823. FUCHS LUBRICANTS CO. (USA) made €263 mn sales with 349 employees.
Mannheim, July 11, 2016
FUCHS PETROLUB SE