Brenntag expands lubricants business in North America
Brenntag, the global market leader in chemical distribution, has strengthened its lubricants business in North America by acquiring Mayes County Petroleum Products, Inc. (“MCP”), a regional integrated lubricant and fuel distributor headquartered in Pryor, Okla., U.S.A.
Mayes County Petroleum Products is engaged in the sale, marketing and distribution of lubricants, commercial fuel, ancillary services and chemicals to industrial, commercial, construction, mining and agricultural consumers mainly throughout Oklahoma. Mayes County Petroleum Products generated sales of USD 37 million in the financial year 2015.
The closing of the transaction is subject to contractually agreed closing conditions.
“Brenntag intends to be an active market consolidator in selected regions in the North American lubricants distribution market which is highly attractive and still fragmented with smaller distribution companies. The MCP acquisition perfectly fits in this strategy, strengthening our relationship with key suppliers and customers in the market,” said Markus Klähn, member of the management board of Brenntag Group and CEO Brenntag North America.
“The MCP acquisition is a valuable addition to the J.A.M. platform that Brenntag acquired in December 2015. It is an excellent fit as it strengthens our existing business in the less volatile lubricants market and will lead to a geographical expansion into the adjacent Oklahoma market,” says Anthony Gerace, managing director, Mergers & Acquisitions at Brenntag Group.
Headquartered in Mülheim an der Ruhr, Germany, Brenntag operates a global network with more than 530 locations in 74 countries. In 2015, Brenntag, which has a global workforce of more than 14,000 employees, generated sales of EUR 10.3 billion (USD 11.5 billion).