Both companies are privately held and terms of the deal were not disclosed. Officials likewise declined to provide information about the size of the companies, except to categorize Cam2 as medium-size and BoMac as small.
Cam2, which was founded 20 years ago, primarily wholesales passenger car motor oils, as well as gear oils, transmission fluids, hydraulic oils and other specialties. BoMac, which is four years old, sells synthetic lubricants, specialized industrial lubes and additives, mostly for the truck service market but also for the racing industry.
A lot of our existing customers do business in the heavy trucking market, but we didnt have those kinds of products, Cam2 President Jack Baker said. This allows us to expand our product offering. Plus, our prices are basically driven by the competition, whereas theyre able to make a little better margin.
BoMac has blending facilities in Greensboro, but Baker said they will be shut down and production operations transferred to Cam2s contract blenders. In addition to BoMacs products and accounts, Baker said Cam2 was pleased to absorb BoMac employees, especially afew individuals with technical expertise.