Gold Eagle completes acquisition of Lubrication Specialties Inc.
Gold Eagle Co., a family-owned manufacturer of performance chemicals and surface treatments based in Chicago, Illinois, U.S.A., has completed the acquisition of Lubrication Specialties Inc. (LSI), a privately operated manufacturer and distributor of additives and lubricants for the automotive market based in Mount Gilead, Ohio, U.S.A. Terms of the deal were not disclosed.
“LSI has always been dedicated to creating high-quality products, and it begins with how they approach research and development,” said Gold Eagle CEO Marc Blackman. “They have an established record of identifying engine, transmission and fuel system related problems, and then developing cutting edge chemistry to develop best of class solutions.”
“Gold Eagle will be a strong strategic partner that will help us scale to our fullest potential while allowing us the freedom to continue making the best products money can buy,” said LSI CEO Chris Gabrelcik. LSI makes several fuel and oil products for the automotive industry, including the Hot Shot’s Secret brand line. The Hot Shot’s Secret product line includes more than 50 additives, specialty oils, coolants, and fluids sold in 30,000+ retail stores in the United States.
Gold Eagle Co. has the resources necessary to expand Hot Shot’s Secret into new distribution channels worldwide, the company said.
“The combined entities will benefit both companies in a myriad of ways to further grow our business,” said Blackman. “We have operational synergies that complement each other well, and we each believe in a people-centric culture.”
The merger will not lead to downsizing or significant changes for the LSI team. All employees will retain their roles and positions within LSI. The LSI executive team will work closely with Gold Eagle Co.’s senior management in Chicago, but it will be business as usual for LSI’s staff and middle management.