Quaker Chemical Corporation has acquired Lubricor Inc., a manufacturer and marketer of metalworking fluids, for approximately CAD16 million (USD11.9 million).
“Lubricor’s proprietary technology and strong customer relationships provide an opportunity to expand our metalworking business in attractive end markets and leverage Quaker’s global footprint to pursue cross-selling opportunities. We believe there is a strong organizational and cultural fit between the two companies and the transaction is consistent with Quaker’s strategy to increase shareholder value through acquisitions,” said Michael F. Barry, chairman, chief executive officer and president of Quaker Chemical.
Lubricor Inc. was established in 1998 in Waterloo, Ontario, Canada, where the company’s headquarters, R&D and production are based. The company currently employs approximately 30 people.
Lubricor annually sells approximately USD10 million of branded products directly to its North American customers, primarily automotive suppliers, and into Southeast Asia through a distributor relationship in Thailand. Also, Lubricor has an annual estimated EBITDA of approximately USD1.6 million.
Headquartered in Conshohocken, Penn., U.S.A., Quaker Chemical is a leading global provider of process fluids, chemical specialties and technical expertise to a wide range of industries, including steel, aluminium, automotive, mining, aerospace, tube and pipe, cans and others.