RSC Bio Solutions has invested growth capital in and become a minority owner of Terresolve, which produces biobased and biodegradable lubricants and functional fluids. Financial terms were not disclosed.
Mentor, Ohio-based Terresolve, which announced the partnership Monday, said it should help make its EnviroLogic brand of industrial lubricants available to a wider audience.
Established earlier this year in Charlotte, N.C., RSC Bio Solutions manufactures and distributes biobased cleaning, degreasing and lubricating products. It is a sister corporation to Radiator Specialty Co., which is a producer of lubricants, chemicals and additives for the automotive, plumbing, hardware, industrial, appliance and export markets. Its brands include Liquid Wrench and Gunk.
We were looking for capital to grow the business, Terresolve CEO Mark Miller told Lube Report. Weve been resource-limited by growing a little bit at a time. RSC put some cash into the business so we could really fuel up the vehicle and hit the ground running.
The partnership with RSC and use of its distribution channels will help open the retail channel to Terresolves products, Miller emphasized, while giving RSC greater access to the industrial sector.
He pointed out that Terresolve, started in 1996, has focused on developing and collecting data on its core biobased industrial products, including through field trials.
We think weve demonstrated the performance both in the lab and the field, and were now ready to grow on that model, Miller said. But weve not penetrated into the retail market as much with some of the consumer products. That will take some of our core products and auxiliary products, and then channel them towards the consumer retail market. He cited examples such as 2-cycle oils, chain saw oils, penetrating lubricants and small engine oils.
Terresolve had gradually pushed towards becoming more of a global business, he noted. This will give us the resources to scale up our business model much more quickly, Miller added, providing the ability to ramp up personnel, locations and inventory to help grow the business.
This partnership enables us to immediately bring customized products to our industrial clients seeking safer solutions that dont compromise performance, said Mike Guggenheimer, vice president of business development for RSC Bio Solutions. Were also working with Terresolves innovative technology to develop a line of ready-to-use, biobased functional fluids for the industrial market. He added, this investment will accelerate the companys growth into its existing and new markets.