ESL Technologies was founded in 2009 to develop lubricant technologies. Repositioned as a sales and marketing business since 2015, ESL Teknologies signed an agreement announced Thursday to distribute Spectrol-branded lubricants in the United States for blender Amalie Oil.
ESLT also received a capital infusion in 2017. We recapitalized internally, as we wanted to minimize the learning curve challenges of new participants, ESLT CEO John Cork Jaeger Jr. explained to Lube Report. We also had a liquid shareholder base from which to secure the recap financing we required. The process included renaming the company from ESL Technologies LLC to ESL Teknologies LLC.
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ESLT formed a board of advisors comprised of experienced industry executives. Tom Plaskett, former chairman and CEO of Pan American Airways and Greyhound Lines, serves as chairman of the board. Other members include Allan McArtor, CEO of Airbus Group for North America and former administrator of the U.S. Federal Aviation Agency; Michael McMillan, who spent 40 years with the General Motors Research Center, where he was involved in developing advanced lubricants and certifying the engine oils for GM vehicles; and Tom Scott, a longtime executive vice president of The Warranty Group, with deep experience in the retail automobile industry.
Tampa, Florida-based Amalies AC Oil Corp. business unit in North Charleston, South Carolina, will continue to produce and package Spectrol lubricants. Amalie acquired the brand – which includes bulk and packaged lubricants for the automotive, commercial and industrial markets – when it acquired Delfin Group USA, a lubricant blending and packaging facility in North Charleston, in December 2015.
We anticipate that this strategic partnership with ESLT will help us tremendously in achieving one of our essential corporate objectives, to extend the Spectrol brand and expand its market share, Harry Barkett, president and CEO of Amalie, said in a news release.
The opportunity to increase Spectrols market share in the 2.3 billion gallon U.S. lubricants marketplace presents a very real opportunity for our company and Amalie, said Jaeger Jr. in a news release. He touted the industry experience of ESLTs sales and marketing team and noted that ESLTs staff also has formulating experience. ESLTs management team includes David Gempel as executive vice president and chief marketing officer. An industry veteran of 37 years, Gempel has held key management positions with firms such as Valvoline, ExxonMobil, Safety-Kleen and others.
ESLT stated that under licensing agreements, it has access to a number of proprietary additive technologies developed collaboratively with the University of Texas at Arlington, and industrial and federal laboratories. One such technology, aimed at improving gas mileage and tailpipe emissions, is being tested in a vehicle fleet.