Brenntag extends its lubricants business platform in Northeast America by acquiring division of NOCO Inc.
October 13 2016, David R BrownTweet
Brenntag, the global market leader in chemical distribution, has signed an agreement to acquire the lubricants business of NOCO Inc., headquartered in Tonawanda, New York, USA.
NOCO's geographic coverage makes this a perfect fit and a natural extension of our existing lubricants business in the Northeast region of the USAnthony Gerace
Managing Director Mergers & Acquisitions at Brenntag Group
Markus Klähn, Member of the Management Board of Brenntag Group and CEO Brenntag North America: “NOCO's lubricants business ideally complements our lubricants business in New England, which we established last year with the acquisition of G.H. Berlin-Windward. We will be able to leverage existing infrastructure, add additional talent and solidify our leading market position.”
NOCO supplies high quality lubricant products to a broad range of industries in the Northeast region of the United States and parts of Ontario and Southern Quebec. The acquisition does not impact NOCO's energy distribution or retail businesses.
Anthony Gerace, Managing Director Mergers & Acquisitions at Brenntag Group: “NOCO's geographic coverage makes this a perfect fit and a natural extension of our existing lubricants business in the Northeast region of the US. Furthermore, we are pleased to enter the Canadian lubricants market by acquiring an established distribution network operating in a major industrial region within the country.”
The business is expected to generate total sales of approximately USD 209 million in the financial year ending in 2016. Closing of the transaction is expected to occur in the course of the next weeks, subject to contractually agreed closing conditions.
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
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