Atlantic States Lubricants sold to Moove in strategic deal
Atlantic States Lubricants Corp. (ASL), a prominent distributor of Mobil-branded lubricants, has been successfully acquired by Moove, a global leader in lubricant solutions. The transaction, facilitated by Matrix Capital Markets Group, includes the sale of certain assets and marks a significant milestone for both organisations.
ASL, headquartered in Farmingdale, New York, U.S.A., has been a supplier of Mobil-branded and proprietary lubricants, such as SYSTM7 and Centurian, to a diverse customer base across New York City, New Jersey, and Connecticut. The SYSTM7 and Centurian product lines includes various types of lubricants, such as gear oils for SYSTM7, and non-detergent oils for Centurian.
Under the leadership of co-owners Frank Rooney and Cindy Tadler, ASL grew organically and through acquisitions, becoming a leading player in the region’s lubricants industry since its founding in 1992. “We want to thank the team at Matrix for simplifying what was otherwise an elaborate undertaking, said Rooney, president of Atlantic States Lubricants.
David Corbett of Matrix praised ASL’s leadership, noting their contributions to making ASL one of the Northeast’s top Mobil distributors. “Frank and Cindy have led Atlantic States Lubricants for more than 30 years and developed it into one of the leading Mobil lubricants distributors in the Northeast by providing industry-leading customer service and developing long-term relationships with their customer base.”
The acquisition aligns with Moove’s strategy to enhance its footprint in the North American market while leveraging ASL’s established customer relationships and distribution network. Moove, a subsidiary of Brazil’s Cosan S.A., acquired PetroChoice Lubrication Solutions from Golden Gate Capital in May 2022 for USD479 million. This strategic acquisition established Moove as a leading player in the U.S. lubricants market, which is valued at approximately USD33 billion. PetroChoice, headquartered in King of Prussia, Pennsylvania, was the largest distributor and manufacturer of value-added lubricant solutions in the United States. The acquisition significantly expanded Moove’s global footprint and revenue, with projections indicating a 50% increase in annual revenue to approximately USD1.87 billion.
Moove is a multinational company operating in 10 countries across South America (Brazil, Argentina, Bolivia, Uruguay, and Paraguay), North America (United States), and Europe (United Kingdom, Spain, France, and Portugal). Its global footprint includes six production plants and more than 100 distribution centres.
