Brenntag acquires local lubricants distributor in North America
Waste Management Expo 2020 MAR 12&13 BIEC, Bengaluru, India

Brenntag acquires local lubricants distributor in North America

10:16 AM, 9th September 2016
Brenntag acquires local lubricants distributor in North America

MULHEIM AN DER RUHR, GERMANY: Brenntag AG said it will strengthen its lubricants business in North America by agreeing to acquire Mayes County Petroleum Products Inc (MCP), a regional integrated lubricant and fuel distributor headquartered in Pryor, Oklahoma. The closing of the transaction will occur in the course of the next weeks. The acquired business generated sales of $37 million in the financial year 2015.

“Brenntag intends to be an active market consolidator in selected regions in the North American lubricants distribution market which is highly attractive and still fragmented with smaller distribution companies. The MCP acquisition perfectly fits in this strategy, strengthening our relationship with key suppliers and customers in the market,” said Markus Klahn, management board member, Brenntag Group and CEO Brenntag North America.

MCP is engaged in the sale, marketing and distribution of lubricants, commercial fuel, ancillary services and chemicals to industrial, commercial, construction, mining and agricultural consumers mainly throughout Oklahoma.

“The MCP acquisition is a valuable addition to the J A M platform that Brenntag acquired in December 2015. It is an excellent fit as it strengthens our existing business in the less volatile lubricants market and will lead to a geographical expansion into the adjacent Oklahoma market,” said Anthony Gerace, managing director, mergers & acquisitions, Brenntag Group.

© Worldofchemicals News



Your Comments (Up to 2000 characters)
Please respect our community and the integrity of its participants. WOC reserves the right to moderate and approve your comment.

Related News

Enterprise withdraws interest in combining with Williams

HOUSTON, US: Enterprise Products Partners LP said it has withdrawn its indication of interest in The Williams Companies Inc, regarding the possible co ...

Read more
AkzoNobel names Chemours exec as specialty chemicals head

AMSTERDAM, NETHERLANDS: AkzoNobel NV has named Thierry F J Vanlancker as the future executive committee member responsible for specialty chemicals, ef ...

Read more
BASF expands high performance thermoplastics capacity in Korea

YEOSU, KOREA: BASF said it will set up an additional production line for Ultrason® polyarylsulfone at its site in Yeosu, Korea. The new line will ...

Read more
Gevo offers stock and warrants; to fund working capital

ENGLEWOOD, US: Gevo Inc said it intends to offer and sell, Series E units, with each Series E unit consisting of one share of common stock and Series ...

Read more
Air Liquide to divest aquatic equipment firm Aqua Lung

PARIS, FRANCE: Air Liquide SA, which regularly reviews its business portfolio, confirms that it is evaluating the opportunity to potentially divest Aq ...

Read more
Gevo, Lufthansa form renewable jet fuel supply agreement

ENGLEWOOD, US: Gevo Inc said it has agreed with Deutsche Lufthansa AG to supply Gevo’s alcohol-to-jet fuel (ATJ) from its first commercial hydro ...

Read more uses cookies to ensure that we give you the best experience on our website. By using this site, you agree to our Privacy Policy and our Terms of Use. X