Houghton International Inc. has signed an agreement to acquire D.A. Stuart Co., bringing together two key metalworking fluid manufacturers. Both companies are privately held, and terms of the transaction were not disclosed.
This acquisition will bring together two complementary organizations that can benefit from shared efficiencies and the integration of best practices, said Houghton International Chief Executive Officer Paul DeVivo. An affiliate of private equity investment firm AEA Investors LLC acquired Houghton in December 2007.
The combination of our two companies and product portfolios positions us for stronger leadership in the global marketplace, said D.A. Stuart CEO Charles Santangelo.
Santangelo told Lube Report that the transaction is subject to regulatory approval, which they expect will be granted in the coming weeks. Until regulatory approval is given, we are very limited in what we can say about this transaction, he said.
Valley Forge, Penn.-based Houghton develops and produces specialty lubricants, chemicals and oils for the metalworking, automotive and steel industries, along with various other markets. In addition to lubricants, their industrial fluids products include rolling fluids, hydraulic fluids, rust preventatives, cleaners, coolants, forming compounds and conversion coatings. The company also offers chemical management programs.
In addition to its headquarters in Pennsylvania, Houghtons other locations in North America are in Georgia, Illinois, Indiana, Michigan, Texas, Ontario, British Columbia and Mexico. It has operations in Brazil and Chile in South America. Houghton also has numerous locations inEurope, Asia, Africa and Australia.
Founded in 1865, D.A. Stuart produces lubricants for the metalworking and primary metals industries. Stuarts expertise includes creating coolants, cutting and grinding oils, metalforming lubricants, friction modifiers, rolling oils and hydraulic fluids. The Warrenville, Ill.-based company provides specialty fluids and services to a variety of markets, including the automotive, steel, aluminum, aerospace, metalforming and general metalworking industries.
D.A. Stuart has additional offices and manufacturing plants in Toronto, Canada; Buenos Aires, Argentina; Wolverhampton, England; Wuppertal, Germany; and Shanghai, China. The company has a regional technical sales office in India, and agents, licensees, representatives and distributions in a variety of locations worldwide.