Capstone Partners advised NexLube Operating LLC (NexLube), a leading producer of base oils and blended lubricants, in forming a joint venture Puraglobe Florida LLC with Paralube GmbH. The joint venture will complete and commission NexLube’s API Group III refinery in Florida by the end of 2018.
The refinery’s API Group III base oil production capacity will be in the range of 1,040 to 1,170 barrels per day. The joint venture will act as the refinery’s operator, while Puralube will serve as the JV’s parent company and have the majority stake in the JV. The joint venture ownership percentages and financial details were not disclosed.
About NexLube Operating LLC
NexLube embraces and actively contributes to a greener economy by recovering and re-refining used oil into high-quality base oils and finished lubricants. Our company strives to protect our natural resources, provide our customers with the highest quality of products, help protect the environment by decreasing harmful emissions, and reduce the demand for imported oil.
About Paralube GmbH
Puralube GmbH is a Chemicals company located in Elsteraue, SA, Germany. Since the start of the first HyLube™ unit in 2004 PURALUBE has grown into an independent and reliable partner in the market for base oils. PURALUBE produces and distributes up to four different viscosities of top-quality, high-grade base oils for the European lubricants market under the brand name pur. For more information, visit www.puralube.com.