|
Jobbers World Online News Briefs is a service to Subscribers
to the Jobbers World Newsletter.
|
Universal Lubricants Finds Equity Partner in Pegasus
Capital Advisors |
Universal Lubricants, LLC announced today that
Pegasus Partners III, L.P., an affiliate of Pegasus
Capital Advisors, L.P., has invested in Universal.
"We've been looking for the right partner to help us
expand our business operations in the areas of
branded oil distribution and used oil collection,
and we've found that in Pegasus," said Mike Maloney,
CEO of Universal Lubricants. "We are committed to
maintaining the same quality of products and
services Universal has been known for in the
lubricants industry for nearly 80 years. We are
looking forward to expanding our successful business
strategy into new markets. And most importantly,
Universal will continue to operate under the same
management."
Management of Universal Lubricants is comprised of
Mike Maloney, CEO, and Gary Cain, president. Founded
in 1929, Universal markets lubricants, such as the
Dyna Plex 21C line of heavy-duty lubricants,
throughout the central United States. They also
distribute Shell Oil Products, Baldwin Filters,
Castrol Industrial Lubricants, and provide used oil
and filter collection services.
"We're pleased that Pegasus has become an investor
in Universal," said Eric Gribetz, partner at
Pegasus. "Pegasus has extensive industry experience
in the oil and waste sectors, so we think we're a
perfect match for helping Universal grow their
thriving business." Pegasus is a private equity fund
that currently manages over $1.4 billion in assets.
|
|
Parman Lubricants Enters the Fuel Business |
|
Parman Lubricants, a large multibranded lubricant
distributor based in Nashville, TN, has expanded it
facility to enter the fuels business. This move
comes after conclusion of a five year noncompete
Parman signed when it acquired JAT Oil and Supply
Inc.'s lubrication facility in 2002.
In preparation for its debut in the fuels business,
Parman installed five 30,000-gallon fuel tanks, fuel
islands, and a card lock system to offer 24/7
access. In addition, Parman has nearly completed
construction of a 10,000-square foot warehouse in
which it will store fuel. Fuels marketed by Parman
include on- and off-road diesel, and the
increasingly popular biodiesel.
In Jobbers World's view, Parman's entry into the
fuels business is a sign of the times. A time when
lubricant marketers must look to expand, not only
through organic growth, but also through
acquisitions, and synergistically broadening their
product offerings.
Parman is a Chevron Signature Class Marketer. In
addition to marketing Chevron and Texaco lubricants,
Parman also handles Castrol, Kendall, Shell,
Pennzoil, and Houghton.
|
|
ITW ROCOL North America Launches Unique Metalworking
Fluid |
|
ITW ROCOL North America launches Accu-Lube
LB-2000FM, a unique metalworking lubricant
specifically designed to meet the needs of the Food
and Medical Industry.
Accu-Lube LB-2000FM is a natural, environmentally
safe metalworking oil recommended for use in Medical
applications requiring machining, drilling, and
tapping small diameter. It is also excellent for
sawing of solids up to 6" in diameter as well as
tubing almost any size.
According to ITW, Accu-Lube LB-2000FM's unique,
natural-based formula provides the highest level of
lubricity to the cutting edge of any tool. Since it
is consumed in the cutting process, the need for
clean up and disposal are virtually eliminated. Some
of the other benefits of Accu-Lube LB-2000FM are:
Environmentally friendly, non-toxic and
biodegradable for safer working conditions.
Eliminates flood coolant and enables long term cost
savings. Provides longer tool life. Safe for use on
all metals. Meets guidelines specified by the FDA in
21 CFR 178.3570 for incidental food contact
|
|
|
Publisher |
|
|
