Calumet, Inc. announced it has entered into a definitive agreement to sell assets related to the industrial portion of its Royal Purple® business for $110 million in cash. The buyer is a wholly owned subsidiary of Lubrication Engineers, Inc., a portfolio company of Aurora Capital Partners.
Calumet will retain ownership of the consumer portion of the Royal Purple business and its production facility in Porter, Texas. The industrial business generated approximately $29 million in total sales during the year ended December 31, 2024.
The company expects to use the sale proceeds primarily to pay down debt, accelerating its deleveraging strategy. The transaction is anticipated to close in the first half of 2025, subject to customary closing conditions.
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