Industry: Energy / Oil & Gas Refining / Marketing
The Employee Stock Ownership Plan (“ESOP”) purchased 20% of the common stock of the Company in a leveraged ESOP recapitalization.
The Company is a supplier and distributor of oil and chemical based products. The Company’s products include lubricating oils, quench oils, oil and water based metalworking fluids and cleaners.
Pendo Advisors, LLC served as independent financial advisor to the trustee of the ESOP and provided a fairness opinion in connection with the transaction.