Market Overview

Quaker Acquires Verkol Specialty Grease & Lubricants Business


Quaker Chemical Corporation (NYSE: KWR) announced today that it has acquired Verkol, S.A., a leading specialty grease and lubricants manufacturer and marketer based in Northern Spain, for approximately $40.1 million, including net cash of $10.5 million. Verkol sells products into industrial end markets with a particular strength serving the Steel industry. In 2014, Verkol recorded revenues of approximately $33.0 million and estimated adjusted EBITDA of $4.3 million. This transaction is consistent with Quaker's strategy to increase shareholder value through acquisitions and to expand its entry into specialty grease.

Michael F. Barry, Chairman, Chief Executive Officer and President, commented, "Verkol is a market leader in specialty grease and lubricants for the Spanish market with world-class grease manufacturing capabilities and state-of-the-art R&D facilities. This acquisition helps us expand our specialty grease platform by providing Quaker local grease manufacturing in Europe as well as giving us additional grease product technology and talent. Verkol also brings unique technology in continuous casting products that will provide us with opportunities to cross sell to our global Steel customer base."

Mr. Barry also commented, "We paid approximately $32.4 million for this acquisition in total, including approximately $2.8 million in transaction-related expenses, or the equivalent of

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Posted-In: M&A News Press Releases


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