Quaker Chemical Corporation acquired ECLI Products $52 million

Quaker acquires ECLI for $52 million

7:06 AM, 18th August 2014
Quaker Chemical Corporation acquired ECLI Products for $52 million

CONSHOHOCKEN, US: Quaker Chemical Corporation has acquired ECLI Products, LLC, a specialty grease manufacturer, headquartered in Aurora, Illinois, US for $52 million. The company specializes in greases for Original equipment manufacturer (OEM) first-fill customers across several industry sectors, including automotive, industrial, aerospace/military, electronics, office automation and natural resources, with estimated 2014 EBITDA of $7 million.

“We continue to build our specialty grease business with this acquisition, and believe it also provides a significant opportunity to leverage Quaker’s global operations footprint - together with the product and market expertise of ECLI Products. This company’s strong customer focus and relationships, as well as application engineering expertise, complement Quaker’s business model. This acquisition also expands our high-end grease business in attractive end markets while positioning Quaker for future growth.  We intend to operate ECLI as a wholly owned subsidiary and an independent entity.  Our first grease acquisition, Summit Lubricants, will also continue to operate as an independent entity and remain focused on its ongoing commitment to customers and the third-party manufacturing of specialty lubricants,” said Michael F Barry, Chairman, CEO and President, Quaker Chemical Corporation.

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