Lubricants distributor RelaDyne announced Tuesday that it has acquired OilRed, a provider of Chevron lubricants and technical solutions in Colombia.
The Houston-based company said that the deal would broaden the reach of its Latin American business, Grupo Lucalza, and expand it into “one of the region’s most important and attractive lubricants markets.”
OilRed, the company said, supplies automotive, commercial and industrial customers in its authorized territories with lubricants, greases, coolants and value-added lubrication programs. The company’s current leadership will remain in place and work with Grupo Lucalza “to accelerate its next phase of growth within the assigned territories.”
Terms of the transaction were not disclosed.
“This acquisition provides an outstanding platform for continued growth, combining deep local market knowledge with a talented management team,” RelaDyne CEO Eric Royse said in a statement. “Together with Grupo Lucalza, we see [a] significant opportunity to expand our geographic reach, enhance our technical offering, and create additional value for customers.”
“Colombia represents a compelling long-term growth opportunity within Latin America, and OilRed provides RelaDyne with a strong foundation from which to build,” added Chief Strategy Officer David Schumacher.
