Gold Eagle Co. Acquires Lubrication Specialties
Gold Eagle Co., a manufacturer of performance chemicals and surface treatments, has acquired Lubrication Specialties Inc. (LSI), the companies announced.
Ohio-based LSI makes several fuel and oil products for the automotive industry, including the Hot Shot’s Secret brand line.
“LSI has always been dedicated to creating high-quality products, and it begins with the way they approach research and development,” said Gold Eagle Co. CEO Marc Blackman. “They have an established record of identifying engine, transmission and fuel system related problems, and then developing cutting edge chemistry to develop best of class solutions.”
Currently, there are over 50 products, fuel and oil additives, specialty oils, coolants and fluids, that make up the Hot Shot’s Secret line. With the acquisition, Gold Eagle Co. aims to expand Hot Shot’s Secret into new distribution channels, the company said.
“I think the combined entities will benefit both companies in a myriad of ways to further grow our business,” said Blackman. “We have operational synergies that complement each other well, and we each believe in a people-centric culture.”
“Gold Eagle will be a strong strategic partner that will help us scale to our fullest potential and allow us the freedom to continue making the best products money can buy,” LSI CEO Chris Gabrelcik said.
The merger will not lead to downsizing or significant changes for the LSI team, and all 71 employees will retain their respective roles and position at LSI, the company said. The LSI executive team will work with Gold Eagle Co.’s senior management in Chicago, but it will be business as usual for LSI’s staff and middle management.
“Together, we have the resources and operational bandwidth to make Hot Shot’s Secret a household name, here and abroad,” said Gabrelcik. “This is an exciting development for Lubrication Specialties Inc. and the Hot Shot’s Secret brand, and we are all looking forward to the next chapter.”
The strategic acquisition of LSI inclusive of the Hot Shot’s Secret product brand was completed July 1. Details of the agreement will not be publicly disclosed.
