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Moove Acquires US Lubricant Maker PetroChoice from Golden Gate Capital
Tuesday 24 May 2022

Brazil-based business group Cosan S.A.'s (B3: CSAN3) (NYSE: CSAN) Moove, a global producer and distributor of lubricants and base oils, has acquired US-based PetroChoice Lubrication Solutions from Golden Gate Capital for USD 479m, the company said.

PetroChoice is the largest distributor and manufacturer of value-added lubricant solutions in the United States, delivering approximately 62m gallons annually to the industrial, commercial, and passenger vehicle customer segments.

PetroChoice has an extensive and high-quality product offering including Mobil lubricants, as well as several licensed proprietary brands including Medallion Plus, Dyna-Plex 21C and Eco Ultra.

Headquartered in King of Prussia, Pennsylvania, PetroChoice operates more than 50 strategically located distribution centers across 25 states.

The acquisition establishes a market-leading presence and distribution footprint for Moove in the USD 33bn US lubricants market.

Moelis and Company LLC served as financial advisor and Reed Smith LLP and Kirkland and Ellis LLP served as legal advisors to PetroChoice and Golden Gate Capital. Jefferies served as financial advisor and Paul Hastings LLP served as legal advisor to Moove.

A global reference in lubricants, Moove is one of the largest producers and distributors of lubricants and base oils in Brazil and other countries in South America (Argentina, Bolivia, Uruguay, and Paraguay), as well as in Europe (United Kingdom, Spain, Portugal, and France) and the United States.

Part of the Cosan Group, the company, offers its specialized lubrication products and services that are essential for moving and providing greater efficiency in industrial equipment and commercial and passenger vehicles.

PetroChoice is the largest lubricant distributor in the United States, providing business solutions for industrial lubricant needs and commercial and passenger car motor oil.

The company, headquartered in King of Prussia, Pennsylvania, operates 54 locations across the US and employs some of the nation's most knowledgeable technical experts in lubrication services and equipment.

Golden Gate Capital is a San Francisco-based private equity investment firm with over USD 19bn in cumulative committed capital.
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Date Published: 24/05/2022

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