The Fuchs Group, which operates globally in the lubricants industry, has signed an agreement to acquire Nulon Products Australia Pty Ltd. Closing is expected at the beginning of the second quarter.
The acquisition is part of Fuchs Australasia’s expansion into the automotive retail sector and compliments its existing automotive, mining, industrial and OEM businesses. The NULON brand with sales revenues of around AUD40 million (USD28.19 million) and 65 employees will be retained, and the products will continue to be manufactured locally.
“We are delighted that Nulon Products Australia is becoming part of Fuchs Australasia,” said Stefan Fuchs, chairman of the Executive Board of Fuchs Petrolub SE. “We see exciting opportunities ahead for both brands.”
“This acquisition is a very strong fit for both Fuchs and Nulon,” said Wayne Hoiles, managing director of Fuchs Australasia. “It’s two family-run businesses coming together. Fuchs’ strong research and development capabilities will enhance the innovation platform that Nulon is best known for. Fuchs is looking forward to welcoming the Nulon team into the Fuchs family.”
Based in Moorebank, New South Wales, Nulon was established in 1980 by Leon Simons.