Investment Firms Swap RelaDyne

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Private equity firm American Industrial Partners announced last week that it has acquired RelaDyne, one of the leaders of the consolidation trend in North America’s lubricant distribution market.

RelaDyne’s reach extends across the United States, particularly in the Mid-Atlantic region, in states bordering the  U.S. Gulf Coast, in Rocky Mountain states and Northern California.

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In recent years, the company has acquired numerous businesses, including PPC Lubricants in September and Alexis Oil Co. in July. RelaDyne acquired New West Oil in December 2020 and three distributors in 2019.

It supplies a number of lubricant brands, including Shell, Chevron, Phillips 66 and Ergon.

RelaDyne, based in Cincinnati, Ohio, has more than 25,000 customers throughout the industrial, commercial and automotive end markets, according to a news release issued Dec. 23.

AIP, based in New York City, owns a portfolio of midlevel industrial companies in the United States and Canada. Its holdings include metals manufacturers, aerospace companies and various industrial suppliers.

RelaDyne was acquired from private equity firm Audax Group, which has offices in Boston, New York and San Francisco. RelaDyne “has experienced remarkable growth since its formation in 2010,” AIP Partner Joel Rotroff said in a news release. “Together we will work to execute on our operating agenda and support future M&A.”