Dec. 10, 2013
/PRNewswire/ -- Calumet Specialty Products Partners, L.P. (NASDAQ: CLMT) ("Calumet" or the "Partnership") a leading independent producer of specialty hydrocarbon and fuel products, today announced that it acquired the Bel-Ray Company, Inc. ("Bel-Ray"), a manufacturer and global distributor of high-performance lubricants. Financial terms of the transaction were not disclosed.
Privately-held Bel-Ray manufacturers and distributes a wide array of high-end specialty lubricants sold through its Industrial, Mining and Powersports divisions. Founded in 1946 by
, Bel-Ray's products are sold in more than 100 countries across six continents. The company owns and operates a 32-acre manufacturing facility in
with convenient access to ports in
and Philadelphia. Bel-Ray is managed by Mr. Kiefer's daughter,
, who has led the company's growth since his retirement in 1995.
For nearly 70 years, Bel-Ray's high performance lubrication technologies have been engineered to set the highest standards of quality, value and performance. Today, Bel-Ray's specialty lubricants are widely accepted as a brand of choice used in the aerospace, automotive, energy, food, marine, military, mining, motorcycle, powersports, steel and textiles industries.
"This transaction signals our ongoing commitment to growing a global specialty products business," stated
, President and COO of Calumet Specialty Products Partners. "Bel-Ray will join an existing portfolio of market-leading specialty products brands that include our
line of high-performance synthetic lubricants and our Penreco line of FDA-registered food-grade products."
-based manufacturing plant will provide us with an East Coast facility capable of serving both domestic and export markets," continued Straumins. "This facility, which currently produces lubricating oils and greases, has ample capacity to supply incremental customer demand for our products."
"Given the private, fragmented nature of the specialty products markets we occupy, Calumet remains an active consolidator of established, profitable businesses that complement our existing product portfolio," concluded Straumins.