The Fuchs Group recently announced that it has signed an agreement to acquire Nye Lubricants, a specialty synthetic lubricant manufacturer based in Fairhaven, Massachusetts. The acquisition, which is expected to close by the end of 2019, should expand Fuchs’ lubricant portfolio across multiple markets while creating opportunities to serve new high-end, critical applications.
"We are very excited to have Nye join the Fuchs Group,” said Stefan Fuchs, chairman of the executive board of Fuchs Petrolub SE. “While Fuchs and Nye operate in the same industries, the Nye product offering allows us to capitalize on additional high-value-added applications. This furthers Fuchs’ objective to be able to offer a full lubricant solution into our target markets."
Founded in 1844, Nye employs 180 people and services customers in a broad range of industries, including automotive parts suppliers, aerospace and defense contractors, appliance and power tool companies, medical device manufacturers, and semiconductor equipment producers. The business, which generated $51 million in sales for 2018, will continue to operate out of its Massachusetts location.
“Nye’s mission is to partner with innovative companies and provide high-performance solutions using its vast technical knowledge, engineering expertise and state-of-the-art R&D laboratories,” said George B. Mock, Nye’s president and CEO. “Joining forces with Fuchs presents Nye with tremendous resources and expertise to broaden its solutions for an ever-increasing global customer base.”
For more information, visit www.fuchs.com.