Quaker Chemical Corp. acquired Lubricor Inc., an Ontario-based metalworking fluids manufacturers and marketer, the companies announced this week.
The deal was completed for C$16 million – or US$11.8 million.
Lubricor sells about US$10 million of branded products directly to North American customers, mostly automotive supplies, as well as to customers in Southeast Asia through a distributor relationship in Thailand. The company’s estimated EBITDA is about US$1.6 million.
“Lubricor’s proprietary technology and strong customer relationships provide an opportunity to expand our metalworking business in attractive end markets and leverage Quaker’s global footprint to pursue cross-selling opportunities,” said Michael F. Barry, Quaker’s chief executive officer, president, and chairman, in a statement.
“We believe there is a strong organizational and cultural fit between the two companies, and the transaction is consistent with Quaker’s strategy to increase shareholder value through acquisitions.”
Lubricor, which has a staff of 30, is headquartered in Waterloo, Ont. Quaker, based in Conshohocken, Pa., produces process fluids, chemical specialties, and technical expertise to the steel, aluminum, automotive, mining, aerospace, tube and pipe, cans, and other industries.
Filed Under: Materials • advanced