Universal Lubricants Expands National Reach With Major Business Acquisition
Company Purchases Midstate Environmental Services, LP, A Privately Owned Used Oil Collector
WICHITA, Kan., May 2, 2012 /PRNewswire/ -- Universal Lubricants (UL), a leading national manufacturer and distributor of automotive and industrial lubricants, today announced its acquisition of Midstate Environmental Services, LP, of Robstown, TX. Midstate is a full service environmental business that focuses primarily on processing used oil for thousands of clients throughout Texas, New Mexico and Louisiana.
Midstate will continue to operate under its own name, but its employees and facilities will be integrated into Universal Lubricants' existing operations. The acquisition will expand the size and scale of UL's market presence while helping position the Company for additional future growth. The acquisition adds 8 facilities and expands the Company's reach to 16 states.
"The Midstate acquisition is another step in UL's strategic plan to become one of America's premier providers of top-quality lubricants using re-refined base oils," said John Wesley, UL's chief executive officer. "Today's announcement also demonstrates that the environmental and economic forces driving our company are real; UL is growing to meet the demand in the marketplace for our products and services."
UL is a leader in used oil collection, base oil re-refining, blending and distribution, all of which maintain UL's trademark commitment to quality in our proprietary Closed Loop Process™. Its flagship product is ECO ULTRA®, a performance-driven and American Petroleum Institute licensed line of motor oils and coolants. The Midstate acquisition perfectly complements UL's strategy of being a premier provider of products and services based on re-refined base oils.
"With Midstate's collected used oil representing additional feedstock for new re-refineries, the acquisition pushes UL to the forefront of the re-refining and lubricants industry," said Joe Hedrick, owner of Midstate Environmental Services. "All of Midstate's employees are proud to become a part of the UL family. While we look forward to serving our existing customers, we also look forward to the continued expansion and success that will result from the partnership."
For more information about Universal Lubricants and its line of automotive and industrial lubricants, please visit www.ecoultraoil.com.
About Universal Lubricants
Universal Lubricants, since its founding in 1929, has balanced tradition with innovation to emerge over the past four decades as a driving force in used oil collection, base oil refining and distribution. The Company collects, re-refines, blends and re-distributes its own motor oil—never losing guardianship within the chain—to ensure that every quart, every gallon is of the highest quality for optimal performance. Universal Lubricants, with its Closed Loop Process™, boasts a national presence, supplying ECO ULTRA® throughout the country by operating 36 facilities in 16 states. This includes one of the world's most technologically advanced re-refineries in Wichita, Kansas. The Company employs 465 workers and is a Pegasus Capital Advisors portfolio company.
SOURCE Universal Lubricants
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