Branded automotive and industrial lubricants distributor Vesco Oil Corp. acquired industrial lubes and metalworking fluids distributor Accurate Lubricants and Metalworking Fluids Inc. on Monday to broaden its geographic footprint in the Midwest and bolster its product and service offerings.
Financial terms of the agreement that was announced yesterday were not disclosed.
[Acculube] is a privately held distributor of Mobil industrial and commercial vehicle lubricants, and a distributor of industrial chemicals and metalworking fluids for Castrol and Houghton, Vesco noted in its press release. Vesco Oil has supplier relationships with Valvoline-VPS, Castrol Metalworking, Perkins, Motorcraft, MOC Products, Fortech, Niteo and Mobil.The company declined to comment on how the acquisition will impact those supplier relationships.
Vesco has expanded our distribution of ExxonMobil commercial and industrial lubricants in Ohio as a result of the acquisition, Lilly Epstein Stotland, Vesco Oils president and co-owner, said in an interview.
Vesco has sought strategic growth in the Midwest over the last several years, and these expansion plans continue, Stotland asserted.
Southfield, Michigan-based Vesco Oil, founded in 1947, claims to be a leading provider of environmental services, including used oil and antifreeze collection.
Current Acculube President Chris Fisk will remain on with the company as the Dayton division manager for Vesco Oil.