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New Deal


Announced

Shell-backed Pennzoil-Quaker State and CSW-backed Whitmore to form Shell & Whitmore Reliability Solutions.

Financials

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Transaction Value-
Consideration TypeCash
Capital Owned-
Capital Bid For100%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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Pending

Joint Venture

Single Bidder

United States

Majority

Domestic

Acquisition

Friendly

Energy / Utility Services

Private

industrial services

Synopsis

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Shell-backed Pennzoil-Quaker State, an American oil company, and CSW-backed Whitmore, an industrial services provider, are set to form Shell & Whitmore Reliability Solutions, which is expected to market, distribute, and sell lubricants, greases, coolants, reliability products, and related industrial services to the North America rail and US mining sectors. Financial terms were not disclosed. “The resilient B2B sectors are key pillars for the future of Shell Lubricants, where we see a lot of opportunity for growth to support the market. Partnering with Whitmore, a leading provider of reliability products, high-performance greases, friction modifiers, and rail products, in creating this JV helps us to progress toward the execution of this strategy," Machteld de Haan, Shell Lubricants Americas President.

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