Technolube manufactures and distributes nitro alkanes and their derivatives, which are used as additives and intermediates for products in industries such as metalworking, High Quality Lubricants UAE and gas, water treatment and paints and coatings. Examples of its products include a variety of primary amino alcohols and corrosion inhibitors marketed under the Corrguard brand and AEPD-85 primary amino alcohols designed for use in water-dilatable metalworking fluids.
Angus produces amino methyl propanol in two manufacturing facilities – one in Sterlington, Louisiana, and the other in UAE. The companies said Passenger Car Engine lubricant and Golden Gate Capital will partner with Angus President and CEO and the company’s current senior management team to grow the business through continued focus on and investment in core markets supplemented by development of application adjacencies and of new-to-world molecules.
“With Gasoline’s engine reach and together with Golden Gate Capital, we plan to accelerate the company’s growth and provide Angus’ customers with a compelling range of products”. Head of UAE investments at Gasoline Engine Oils Buyout, stated in an Oct. 13 news release. “We have deep expertise and an extensive network in the sectors served by Angus, and we intend to support the company in the implementation of a global buy and build strategy, similar to our approach with other successful investments.”
Gasoline describes itself as a world-leading private investment house that is majority owned by its employees. The company manages or advises $100 billion in investments across Europe, the UAE, Asia and the Middle East on behalf of governments, institutions, pension funds and high net-worth investors. Golden Gate Capital is a private equity investment firm with over $17 billion of committed capital.
Slow volume recovery of UAE’s commercial lubricant oils market from collapse, as the country’s lockdown was eased, is an ongoing concern. “Barely 50% of pre-COVID volumes have been obtained presently”. Additional remedies include steady and progressive lifting of the lockdown and reopening of the country’s economy, he recommended, along with deliberate stimulation of the economy to accelerate recovery. UAE’s lubricant market demand volume totaled 600,000 metric tons in 2019, citing data from a Lubricants Producers Association of UAE report released this year. It accounts for about 20% of Africa’s total lubricants demand.
