CHICAGO and CLEVELAND, July 25, 2016 /PRNewswire/ -- Brown Gibbons Lang & Company (BGL) is pleased to announce the sale of Wallover Enterprises, Inc. (Wallover or the Company) to Houghton International Inc., a subsidiary of Gulf Oil International. BGL's Industrials team served as the exclusive financial advisor to Wallover in the transaction. The specific terms of the transaction were not disclosed.
Established in 1863, Wallover is one of the oldest independent formulators of customized and highly engineered metalworking fluids and industrial lubricants in North America. The Company offers one of the broadest portfolios of custom oil and water-based fluid products in the industry, including metalworking fluids, aqueous cleaners, drawing and stamping compounds, rust preventives, electrical discharge machining (EDM) fluids, quenching oils, rolling oils, and industrial lubricants, with manufacturing applications in the automotive, aerospace, and medical industries. Wallover provides advanced technical and applications expertise directly to small and mid-sized general industrial metalworkers, stainless steel cold rolling mills, and large multi-national OEMs and component manufacturers. By leveraging its deep engineering capabilities, long legacy of market leadership, and industry expertise, the Company is able to rapidly develop customized solutions for its diverse base of customers. Customers rely on Wallover products to increase operational efficiency and extend the useful lives of capital equipment.
Eric Kielts, President and CEO of Wallover commented that "BGL's senior team brought a keen understanding of the value proposition of our engineered solutions and the demanding industrial end markets we serve. Their industry expertise served the shareholders well in positioning Wallover and finding the ideal partner for the Company."
About Houghton International
Houghton International is a global leader in delivering advanced metalworking fluids and services for the automotive, aerospace, metals, mining, machinery, offshore, and beverage industries. Headquartered in Valley Forge, Pennsylvania, Houghton operates research, manufacturing, and office locations in 33 countries around the world delivering solutions that increase productivity, reduce operating costs, and improve product quality for its customers. Houghton International is a subsidiary of Gulf Oil International, which is owned by the Hinduja Group of Companies.
About Brown Gibbons Lang & Company
Brown Gibbons Lang & Company is a leading independent investment bank serving the middle market. BGL specializes in mergers and acquisitions advisory services, debt and equity placements, financial restructuring advice, and valuations and fairness opinions, with global industry teams in Business Services, Consumer, Environmental & Industrial Services, Healthcare & Life Sciences, Industrials, and Real Estate. BGL has offices in Chicago, Cleveland, and Philadelphia and real estate offices in Chicago, Cleveland, Irvine, and San Antonio, in addition to Global M&A partner offices in more than 50 countries across 5 continents. BGL is able to deliver to our clients unparalleled access to strategic relationships, investors, and opportunities globally. For more information, please visit www.bglco.com.
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