FUCHS acquires manufacturer for high-performance specialty lubricants
The FUCHS Group, which operates globally in the lubricants industry, has signed an agreement to acquire the international LUBCON Group, primarily with the aim of jointly innovating and advancing high-quality specialty lubrication solutions. The family-run German company that operates out of Maintal in Hessen, Germany has many years of experience and expertise in the development, manufacture, sale and distribution of greases, oils, and pastes. Accordingly, this step will help the FUCHS Group strengthen its product portfolio for specialty lubrication solutions, as well as boosting its global competitiveness - subject to the closing of the deal.
The LUBCON Group comprises 13 operating companies, as well as five production locations in Germany, Poland, the Philippines, India, and the US. The company's high-quality products are used in various sectors, including the railway, roller bearings, paper, textiles, food, pharmaceutical and wind industries.
"I feel confident that we can tap the growth potential of the LUBCON Group even more effectively on a global scale with the FUCHS network of 55 companies and 33 production facilities. We considered it extremely important to find the right partner for this and are looking forward to growing with FUCHS and safeguarding our future. As lubricant specialists, we not only operate in the same field, but are also both family-run enterprises, which strengthens our common values," comments Heiko Engelke, Managing Partner of the LUBCON Group.
"With the acquisition of the LUBCON Group, we see a great opportunity for our future development. We're not only gaining a team of highly qualified employees with extensive technological expertise, but also extending our own product portfolio, particularly in the field of industrial lubricants and greases. This not only strengthens our existing key markets but also enables us to penetrate new sales markets. We feel certain that this strategic decision will further reinforce our position as leading supplier in the industry," comments Stefan Fuchs, Chairman of the Executive Board at FUCHS SE.
The transaction is still pending approval from the cartel authorities. However, the parties anticipate closing the deal in the third quarter of 2024.
The LUBCON Group employs 211 staff members, with 180 in EMEA, 20 in Asia-Pacific, and 11 in the Americas. The company recorded sales revenue of around EUR 40 million in the financial year 2023.
The FUCHS Group has a workforce of 6,200 employees and generated sales revenue of EUR 3.5 billion in the financial year 2023.
