Fuchs Group completed the acquisition of the Swiss industrial lubricant company Strub. In September, the company signed a letter of intent to absorb the century-old family-run firm.
Founded in 1921 and headquartered in Reiden, Switzerland, Strub develops, produces and distributes industrial lubricants and specialty products. It markets primarily in the Swiss market but has some sales in foreign countries.
Fuchs said the deal gives it direct access to the Swiss market and an in-country research and manufacturing site. It added that its operations in the country will now be under one umbrella.
Fuchs, which is based in Mannheim, Germany, is the globe’s largest independent lubricant producer and has grown steadily over the years through a combination of organic expansion and acquisitions – often of companies with which it previously cooperated.
The company will continue to operate under the Strub brand, and Diana and Marcel Strub will remain members of the management team. Mario Gehrlein will assume the position of CEO. For the past two years, he has been a member of the management board of E-Lyte Innovations GmbH, in which Fuchs has a stake.
Strub & Co. AG employs 40 people and generated sales of approximately €15 million in the financial year 2023. For the same period Fuchs Group employed 6,200 people and generated sales of €3.5 billion.