Audax Private Equity yesterday acquired Ohio-based fuels and lubes distributorRelaDyne from AEA Investors for an undisclosed sum, and will expand it through additional acquisitions. Velocys will indefinitely delay its 5,000 barrel per day gas-to-liquids wax and speciality chemicals plant in Ashtabula, Ohio, due to challenges in raising equity. Velocys said the U.S. wax market is strong, but that it is reviewing the plants place in its overall strategy. Stockholders of Dow Chemical Co., which makes specialty chemicals such as polyalkylene glycol, silicones, biocides and antimicrobial products, and of DuPont, whose products include lubes and greases made with Teflon fluropolymer, approved the companies merger.
