Amalie Oil Co. entered into a letter of intent to purchase the United States business of Lubricating Specialties Co., according to an announcement issued by LSC on Monday. Financial terms were not disclosed for the agreement, which is expected to close on or before May 31, LSC CEO Sydney Thwaites told Lube Report yesterday.
LSC was in discussions with a select group of strategic buyers, and Amalie was chosen to move forward with, Thwaites said in an emailed statement. Amalie is the largest independent lubricant manufacturer in the U.S. LSC is the largest in the Western U.S. The combined entity creates a dominant platform in the industry with a wide range of product and service capabilities.
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