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I would like to now turn to those slides and talk a little bit about where Calumet is and the rationale for this acquisition, and talk a little bit about the company itself. Royal Purple is a privately held company and a very recognizable brand name in its space and Calumet is very excited to be doing this acquisition. Calumet is a leading producer of specialty products. We own and operate 8 facilities and 6 terminals throughout the U.S. And this is a great asset to add to our asset base. We currently produce products such as naphthenic and paraffinic base oils and process oils, aliphatic and isoparaffinic solvents, USP and technical white oils, pharmaceutical and technical grade petrolatums, natural petroleum sulfonates, hydrocarbon gels and polyol-based synthetic lubricants.Calumet was started back in 1990 and was taken public in 2006 by the two founding families. The families of the Chairman and CEO still control approximately 32% of our limited partner interest in Calumet and own 100% of the general partner. Calumet currently produces over 1500 specialty products which are sold to 2700 different customers. These are very special applications with very long approval processes and the ability to pass through feedstock price changes to our customers in timely manner. Our customers who purchase our products use them as raw material components for industrial consumer and automotive products. Calumet currently employs approximately 900 people throughout the U.S. and with this acquisition that will push us over 1000 people that will be employed by Calumet throughout the United States. We currently own and operate 8 facilities and have an aggregate throughout capacity of 135,000 barrels a day of crude. We have total storage capacity across all our facilities of over 10 million barrels of both crude and finished products. Our management team has been together for a significant period of time and on average each member of the management team has over 25 years of industry experience. And you can see on the slide five, the Calumet milestones of growth. Calumet has been very active in the acquisition space over the last couple of -- over the last year or so. We were able -- our business strategy is really to take advantage of majors leading the space or small, privately companies deciding that they want to move on and do something else. And we have been able to buy refineries off of ConocoPhillips, off of Pennzoil, and most recently also Murphy Oil when these chose to leave the refining space.
This Royal Purple acquisition, as I mentioned, was a privately held company started back in 1986 by three gentlemen who have been very involved in the business and have done a phenomenal job of growing it over the last 25 years. This acquisition will join two acquisitions that we have done so far in 2012. In January we acquired a polyol/ester synthetic lubricant from Ashland based in St. Louis, Missouri. And also a packaging facility called TruSouth that’s based outside of Shreveport in Louisiana. Really all three of these businesses will integrate very nicely with each other. There are lot of synergies between the three. Calumet also is a current supplier to Royal Purple, so there are some synergies with that as well.We plan on growing both the packaging part of the business as well as the feedstock part of the business as we expand the synthetic-ester production out of St. Louis. Our growth strategy has been and will continue to be to acquire niche assets that, again, major oil companies no longer desire to have. We strive to acquire assets that support the stability of cash flows, and this Royal Purple acquisition will do just that. They have had very very stable and growing cash flows over the whole time that they have been in existence. We also look to provide geographic diversification and the Superior refinery acquisition is a great example of that. Read the rest of this transcript for free on seekingalpha.com