MILWAUKEE (May 9, 2023) – Two Wisconsin-based, family-owned companies are joining forces. AMSOIL INC., a global leader in synthetic lubricant technology, has acquired Milwaukee-based Benz Oil. Founded in 1898, Benz specializes in the development, manufacture and supply of industrial and metalworking fluids. Benz Oil will become part of the AMSOIL Industrial business unit. Grace Matthews advised Benz on the transaction.
“Bringing the Benz team and facilities onboard as part of AMSOIL Industrial immediately boosts our capabilities and expertise with industrial fluids,” said AMSOIL Chairman & CEO Alan Amatuzio. “This acquisition makes AMSOIL Industrial the premier choice for companies that want to maximize the efficiency and reliability of their operations. Our solutions, expertise and passion make AMSOIL an indispensable partner.”
The AMSOIL Industrial product portfolio includes turbine oil, hydraulic oil, gear oil, compressor oil, stationary engine oil, grease, coolant and flushing and cleaning products. Now, cutting and grinding metalworking fluids, process fluids, heat-transfer fluids and other specialty fluids are added to that list.
“The most exciting thing about this acquisition is how similar our companies are in our approach to business,” said AMSOIL VP, Industrial Dave Meyer. “We both place high value on our people and our customers. AMSOIL Industrial is very focused on a consultative approach to selling and providing value outside the transaction, and Benz operates the same way.”
AMSOIL Industrial and Benz Oil both feature strong teams with rich industry experience. “Benz has a very talented team already in place, and they will play a critical role in driving growth for AMSOIL Industrial and setting us further apart from the competition,” said Meyer.
The Benz facilities in Milwaukee will be rebranded as AMSOIL. Sales, laboratory operations, production and distribution will continue on site.
“As the third-generation leader of a family-owned company with a strong legacy, it was important for us to find new ownership that would seamlessly embrace our values and preserve the core of what we have built over the past 125 years”, said Benz Oil CEO Dixon Benz II. “I truly believe that AMSOIL, another family-owned, Wisconsin company, with a highly capable team, will embrace the values of our organization and accelerate its trajectory. It’s exciting to know that AMSOIL embraces our foundation and is committed to growing the company in meaningful ways. This is a tremendous opportunity for our customers and employees.”
ABOUT BENZ OIL
Over its 125 year history, Benz has established itself as a premier lubricants manufacturer focused on metalworking fluids, industrial maintenance fluids, and other specialty fluids. Benz maintains a portfolio of proprietary formulations blended in-house. The company’s operations, laboratory, and warehouse are centrally located in Milwaukee, WI, and provide significant blending and storage capacity. Benz has an established customer base and national reach, serving a diverse range of end markets, including heavy industrial, agricultural, consumer goods manufacturing, automotive manufacturing, biomedical, and other manufacturing applications. To learn more about Benz, visit benz.com.
AMSOIL specializes in developing synthetic lubricants that offer innovative answers to the greatest challenges vehicles and equipment present. The extraordinary performance of AMSOIL synthetic lubricants in a range of markets – automotive, powersports, industrial, racing and more – has made their influence in the industry unmistakable and their brand highly respected. Their commitment to innovation has resulted in legions of brand-loyal customers. To learn more about AMSOIL, visit amsoil.com.
ABOUT GRACE MATTHEWS
Grace Matthews, Inc., a Milwaukee-based investment bank, provides merger, acquisition, and corporate finance advisory services to private and public companies across the chemical and material science value chain. Over the past two decades, Grace Matthews has successfully completed over 200 transactions on behalf of clients ranging from private, middle-market companies to large, foreign or U.S.-based multi-nationals. For more detailed information on Grace Matthews, visit gracematthews.com.
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