Quaker Chemical has acquired specialty grease manufacturer
ECLI Products for $52 million, the companies announced on
Headquartered in Aurora, Illinois, the company specializes in
greases for OEM first-fill customers across several industry
sectors, including automotive, industrial,
aerospace/military, electronics, office automation and
natural resources, with estimated 2014 EBITDA of $7 million.
This transaction is consistent with Quaker's strategy to
increase shareholder value through acquisitions and to
complement Quaker's 2010 entry into the specialty grease
market with the acquisition of Summit Lubricants, according
to company officials.
"We continue to build our specialty grease business with this
acquisition, and believe it also provides a significant
opportunity to leverage Quaker's global operations footprint
-- together with the product and market expertise of ECLI
Products," said CEO Michael F. Barry.
"This company's strong customer focus and relationships, as
well as application engineering expertise, complement
Quaker's business model," he continued. "This acquisition
also expands our high-end grease business in attractive end
markets while positioning Quaker for future growth.
"We intend to operate ECLI as a wholly owned subsidiary and
an independent entity. Our first grease acquisition, Summit
Lubricants, will also continue to operate as an independent
entity and remain focused on its ongoing commitment to
customers and the third-party manufacturing of specialty
ECLI Products has 35 employees, based at its manufacturing facilities
in Illinois and Ohio, a
sales presence in Germany, and distributor relationships in
, Asia and South America.
The company operates through two business segments,
Engineered Custom Lubricants and Lubrication Technologies,