FUCHS acquires lubricants business of Gleitmo Technik AB
The Fuchs Group, headquartered in Mannheim, Germany, and the world’s largest independent lubricant manufacturer, has signed an agreement to acquire the lubricants business of Gleitmo Technik AB in Kungsbacka, Sweden.
The newly acquired business will be integrated into its subsidiary Fuchs Lubricants Sweden AB as of July 1, 2021.
Fuchs acquired 100% of the shares in Gleitmo Technik AB through a share purchase agreement (SPA) which includes the customer base, the product portfolio, the workforce and a lease agreement of the Gleitmo office and warehouse in Kungsbacka in particular.
The bundling of sales channel makes Fuchs Lubricants Sweden AB a central and authoritative partner for all lubricants and related specialties in Sweden and the Nordic Region.
As a longstanding trading partner of Fuchs, Gleitmo Technik AB generated sales revenues of around EUR6 million (USD7.3 million) in the financial year 2020. The company currently employs 10 people.