Lubricant manufacturer and distributor Gold Eagle Co. acquired another blender and distributor, Lubrication Specialties Inc., in a deal struck earlier this month.
Chicago-based Gold Eagle makes a handful of automotive and marine lubricants while also blending and distributing more than 300 different original equipment manufacturer and private brands for more than 40 companies. Its South Kildare Avenue building houses its headquarters, a manufacturing plant and a warehouse.
Lubrication Specialties, based in Mount Gilead, Ohio, manufactures and distributes lubricants and greases for a variety of applications and handles private label blending. Hot Shot’s Secret is the company’s most well-known lubricants line, with more than 50 products.
“Gold Eagle Co. has the resources necessary to expand Hot Shot’s Secret into new distribution channels around the world,” Gold Eagle said in a press release. “As a single operating unit, more customers will gain access to LSI’s products”
“Our operations here have a lot of the wrinkles ironed out that other companies that are much younger like [Lubrication Specialties] haven’t had a chance yet to do,” Gold Eagle CEO Marc Blackman said.
The companies said the acquisition will eliminate any jobs.
“Together, we have the resources and operational bandwidth to make Hot Shot’s Secret a household name, here and abroad,” Lubrication Specialties CEO Chris Gabrelcik said. “This is an exciting development for Lubrication Specialties Inc. and the Hot Shot’s Secret brand, and we are all looking forward to the next chapter.” The acquisition closed on July 1, said Gold Eagle, which did not disclose the price of the deal.