Brenntag, the global market leader in chemical distribution, has signed an agreement to acquire the lubricants business of NOCO Inc., headquartered in Tonawanda, N.Y., U.S.A.
NOCO supplies high-quality lubricant products to a broad range of industries in the Northeast region of the United States and parts of Ontario and Southern Quebec, Canada. The acquisition does not impact NOCO’s energy distribution or retail businesses.
“NOCO’s lubricants business ideally complements our lubricants business in New England, which we established last year with the acquisition of G.H. Berlin-Windward. We will be able to leverage existing infrastructure, add additional talent and solidify our leading market position,” said Markus Klähn, a member of the management board of Brenntag Group and CEO of Brenntag North America.
“NOCO’s geographic coverage makes this a perfect fit and a natural extension of our existing lubricants business in the Northeast region of the US. Furthermore, we are pleased to enter the Canadian lubricants market by acquiring an established distribution network operating in a major industrial region within the country,” said Anthony Gerace, managing director, mergers & acquisitions, Brenntag Group.
The business is expected to generate total sales of approximately USD209 million in the financial year 2016. Closing of this transaction is expected to occur in the next weeks, subject to contractually agreed upon closing conditions.