Six lubricant industry executives have bought RhinoPak, a contract blender and packager of lubricants and solvent-based liquids, powders and other chemical products in Highlands, Texas, from the John W. Mecom family for an undisclosed amount, in a deal that closed Thursday.
The new company will operate under the name of ZXP Technologies Ltd. Ed Davis, who has more than 30 years of experience in managing and operating similar facilities throughout the country, will head ZXP as president and chief executive officer. He spent 28 years with Pennzoil and worked most recently for Dunn, N.C.-based Warren Oil Co.,one of the nations largest independent lubricant manufacturers.
ZXP Technologies will offer a variety of blending, packaging and distribution services on a worldwide basis. The ZXP Technologies facility is capable of an annual throughput of 100 million gallons and employs more than 300 people.
Davis told Lube Report that the six executives havesome 140 total years ofexperience in the lubricants industry. He said the company will announce details on those individuals next week. According to the ZXP Technologies web site, the management team – in addition to Davis and Senior Vice President and General Partner Jayna Mull – includes Rodney Walker; David Pupo, plant operations; Silvia Garcia, customer service; and Jimmie Strouhal, laboratory support.
Davis explained that the Mecom family took over RhinoPak in 2002. They were strictly investors, so they hired people who are not from the same part of the industry as we are, he said. The company has sustained itself, and we just want to take it to a brand new level. With our manufacturing expertise, we believe we can reduce costs and make the company profitable.
He said the plan is to enhance what RhinoPak already provided in terms of services and products. Were going to concentrate on contract blending, packaging and tolling operations, he added. The company does products for every major oil company, essentially.
ZXP provides a variety of filling capabilities from high-speed automation to low volume-customized offerings. It can formulate, store or blend a variety of products, including glycol, synthetic and conventional oils, agricultural and cleaning formulations. It has blending capabilities ranging from 50 gallons to 250,000 gallons.
Davis highlighted the companys capability to do unique containers, such as putting together two five-quart containers of oil for special promotions for retailers. With big companies its difficult to interrupt their mass production to do this special packaging, he said. Were capable of doing those special items.
He said the acquisition represented an opportunity for him to work near Houston where he lives, and to best utilize his skills. Davis said he also relished the opportunity to work with his son, Stephen, who hasjoined him in the new business.