Independent lubricant blender Fuchs Petrolub, based in Mannheim, Germany, acquired Swedish company Gleitmo Technik AB’s lubricants business, the company announced last week.
According to Gleitmo’s website, its lubricants product offerings include greases, food-grade lubricants, gear lubricants, lubricating pastes, dry lubricants, aerosols and metal forming and mounting lubricants. The company will be integrated into Fuchs’ Swedish subsidiary Fuchs Lubricants Sweden AB.
The acquisition includes Gleitmo’s customer base, product portfolio, 10 employees and its office and warehouse in Kungsbacka, Sweden.
Gleitmo generates sales revenue of approximately €6 million (U.S. $7.2 million), according to Fuchs. The two companies had already worked together in partnership before the acquisition.
“The bundling of sales channels makes Fuchs Lubricants Sweden AB a central and authoritative partner for all lubricants and related specialties in Sweden and the Nordic Region,” Fuchs said in a press release issued June 10.
The acquisition will be completed July 1.
Fuchs claims to be the world’s largest independent lubricant supplier. It has completed several acquisitions the past few years.