Shell announced yesterday that it agreed to sell its downstream business in Argentina to Raizen, a 50-50 joint venture with Brazilian sugar producer Cosan. The business is reportedly one of the three largest lubricant suppliers in the Argentinian market.
Calumet Specialty Products Partners, L.P. said on Monday that it acquired Biosynthetic Technologies, a startup that converts sustainable plant oils into synthetic base stocks using proprietary technology.
Axel Christiernsson announced Monday its acquisition of Royal Manufacturing, a deal that will triple Axels grease production capacity in the United States.
Fuchs Petrolub SE acquired Dallas, Texas-based wireless sensor technology company Fluid Vision Technologies LLC for less than 1 million (U.S. $1.2 million) so it could offer automated process fluid condition monitoring.
Private equity firm Wynnchurch Capital acquired do-it-for-me oil change giant Heartland Automotive Services Inc. for $1.3 billion, the companies announced last week. The Chicago-based firm partnered with Jiffy Lube franchise Mid-Atlantic Lubes Inc. for the acquisition, but declined to comment on details of the partnership.
A Houston private equity firm agreed this month to take an undisclosed stake in contract lubricant blender and packager ZXP Technologies Ltd.
Mavis Discount Tire agreed to merge with Express Oil Change & Tire Engineers, creating one of the largest independent chains of auto service providers in the United States. The merged chain will have more than 830 locations offering oil changes and other services.
Pack Logix Inc. announced Monday that it acquired the Spectrum Lubricants Corp. packaging plant in Waukesha, Wisconsin, from Phillips 66. Financial terms of the agreement were not disclosed.
ExxonMobil invested in a startup company offering on-demand fuel delivery and mobile vehicle car care service - including oil changes - to help carve out a new sales channel for its products.
Global bright stock demand was 2.7 million tons in 2017, but is expected to decline by approximately 250,000 tons by 2027, said Kline & Co. in a webinar last week. The Americas account for 20 to 25 percent of demand.