Business
Calumet Specialty Products Partners, L.P. Acquires Paralogics, LLC, Expands Specialty Wax Business
Paralogics, LLC acquisition strengthens wax blending, packaging and distribution capability INDIANAPOLIS, March 2, 2020 /PRNewswire/ -- Calumet Specialty
About this update from Calumet, Inc
[{"type":"text","content":"Paralogics, LLC acquisition strengthens wax blending, packaging and distribution capability\n\n\n INDIANAPOLIS, March 2, 2020 /PRNewswire/ -- Calumet Specialty Products Partners, L.P. (NASDAQ: CLMT) (the \"Partnership\" or \"Calumet\"), a leading independent producer of specialty hydrocarbon and fuels products, today announced the Partnership completed the acquisition of Paralogics, LLC, a producer of candle and industrial wax blends. Paralogics expands Calumets presence in the specialty wax blending and packaging market, and upon integrating the new capabilities into Calumet's existing wax business value chain, will add 20 million pounds of annual blending and formulating capabilities.\n\"I'm pleased to announce the acquisition of Paralogics and its alignment with the Partnership's Specialty-focused growth strategy,\" said Scott Obermeier, EVP Commercial of Calumet. \"Paralogics is a natural fit with our current wax business, and further enhances our capabilities and presence in specialty wax markets. This strategic bolt-on will enable Calumet to more efficiently access higher-margin end markets, extend our value chain into packaging and blending, and add additional technical expertise in developing formulations for higher margin end markets. In addition to its commercial synergies, the acquisition also improves our operations by bringing in an additional logistics hub to our geographic footprint, allowing us to better control transportation and freight costs.\" \nObermeier added, \"We are excited about the Paralogics platform and the added capabilities and expertise it brings to our wax business. This acquisition is representative of our strategy of expanding our portfolio in high-value niche areas that offers synergistic value to our existing presence. We are excited about the asset and its alignment with our Specialty growth strategy.\" \nAbout Calumet Specialty Products Partners, L.P.\nCalumet Specialty Products Partners, L.P. (NASDAQ: CLMT) is a master limited partnership and a leading independent producer of high-quality, specialty hydrocarbon products in North America. Calumet processes crude oil and other feedstocks into customized lubricating oils, solvents and waxes used in consumer, industrial and automotive products; produces fuel products including gasoline, diesel and jet fuel. Calumet is based in Indianapolis, In...