September 9 2016, David R Brown
Brenntag expands lubricants business in North America by acquiring local distributor Mayes County Petroleum Products (MCP)
Brenntag, the global market leader in chemical distribution, strengthens its lubricants business in North America by agreeing to acquire Mayes County Petroleum Products, Inc. (MCP), a regional integrated lubricant and fuel distributor headquartered in Pryor, Oklahoma.
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
Markus Klähn
Member of the Management Board of Brenntag Group and CEO Brenntag North America
Markus Klähn, Member of the Management Board of Brenntag Group and CEO Brenntag North America: “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.”
MCP 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.
“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.
The acquired business generated sales of 37 million USD in the financial year 2015. The closing of the transaction will occur in the course of the next weeks, subject to contractually agreed closing conditions.
About Brenntag
Headquartered in Mülheim an der Ruhr, Germany, Brenntag is the market leader in chemical distribution and operates a global network of over 530 locations in more than 74 countries. In 2015, the company, which has a global workforce of more than 14,000, generated sales of EUR 10.3 billion (USD 11.5 billion). With over 10,000 products and a world-class supplier base, Brenntag offers one-stop-shop solutions to around 180,000 customers. These include specific application technology, extensive technical support and value-added services such as just-in-time delivery, product mixing, formulation, repackaging, inventory management and drum return handling.
Source(s): Brenntag Press Release
Further Information
Visit: http://www.brenntag.com