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Mergers/Deals/Acquisitions

Fuchs Lands Chemicals Process Management Firm

The Fuchs Group acquired Zimmark Inc., a Canadian company offering services in the lubricants and chemicals process management space, effective Nov. 1. Terms were not disclosed.

Fuchs Acquires American Lube Blender

The Fuchs Group acquired American synthetic lubricants blender Nye Lubricants Inc., the companies announced on Monday, expanding Fuchs specialty lubricants product portfolio.

Master Fluid Acquires Wilhelm Dietz

Perrysburg, Ohio-based Master Fluid Solutions announced on Oct. 7 the acquisition of German metalworking fluids manufacturer Wilhelm Dietz GmbH, saying it will enable products that it sells in Europe to be made in-house instead of through toll partners. Terms were not disclosed.

Isla Refinery Takes Next Step In Operator Search

Refineria di Korsou - the Curacao government entity that owns the Isla Refinery - issued non-exclusive letters of intent to multiple prospective operators of its sparsely run facility, the entity announced last week, taking one more step toward choosing a final preferred operator.

Huntsman Sells Surfactants Business

Indorama Ventures acquired Huntsman Corp.s chemical intermediates and surfactants businesses for $2 billion, the companies announced last week. A number of products included in the acquisition can be used to make lubricants and metalworking fluid additives.

Vertex-Tensile JV Boosts Rerefining Plans

Tensile Capital Management LLC formed a joint venture with Vertex Energy Inc., agreeing to inject capital that will accelerate development of Vertexs Columbus, Ohio, rerefinery and help fund a pilot program at an idled site in Belle Chase, Louisiana.

FTC Tells Quaker Chem, Houghton to Divest

The United States Federal Trade Commission announced Tuesday that it will require Quaker Chemical and Houghton International to divest operations related to aluminum and steel rolling oils as a condition of their delayed merger.

Hillenbrand to Buy Milacron for $2 Billion

Hillenbrand Inc. will acquire Milacron Holdings Corp. in a cash and stock transaction valued at $2 billion and expected to close in 2020s first quarter, the companies announced last Friday. Milacrons Fluid Technologies segment supplies metalworking and industrial fluids.

Aceto Sells Performance Chemicals Business

Aceto sold its performance chemicals business, which supplies lubricant additives, to New York investment firm New Mountain Capitals affiliate NMC Atlas, L.P., following the conclusion of a court-supervised sale process conducted as part of a Chapter 11 bankruptcy filing.

No National Class Action for Dollar General Suits

A federal judge last week granted statewide class action status to 16 groups of consumers suing Dollar General for selling motor oil alleged to have been obsolete, but the judge rejected a request to grant national class action status.
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