German oil company Liquid Moly has a new owner, after the Würth Group, until now a silent partner, bought the remaining shares from CEO Ernst Prost to take full control of the business.
Distributed by Andrew Page in the UK, Liquid Moly started life in 1957 supplying additives to engine oil manufacturers, before entering the market itself. Today it is one of the biggest suppliers in Germany, and has been working to establish itself on the British market over the last few years. The takeover comes at a time when the company is ‘fit and healthy’ with a successful sales record in 2017, according to a statement.
Prost comments: ” I have hereby secured the future of LIQUI MOLY for a time when I may no longer be at the helm myself. I wanted to make provisions with a minimum of fuss, when things are going well and we don’t have to decide under difficult circumstances.”
There is a long relationship with the Würth Group. For almost 20 years the company has been a silent partner of Liquid Moly – a safeguard against uncertainties even back then. With more than 70,000 employees and €12.5 billion sales, Würth Group may be rather bigger than the oil manufacturer, but it is also a family company. Prost adds: “That’s why I know Liquid Moly is in good hands with the Würth Group.”
Except for the change of owner behind the scenes, nothing else will affect the company going forward. It remains an independent manufacturer within the Würth Group, Ernst Prost remains CEO and nothing changes for the employees, either. “Those who know me know that my employees are my focus,” says Prost. “After all, it would be foolish to change anything about the road to success over the past few years. Everything will continue just as before – just under a bigger roof that offers greater protection.”
In a letter to staff, the CEO adds: “I am looking forward to this new arrangement with Würth as our parent company, Because now we can do even more. We will expand our global businesses even more intensively and sustainably. And we will do so, I am happy to repeat, with the greatest possible security for our own jobs and for the jobs that are dependent upon us in Ulm and Saarlouis at our business partners worldwide.”
No details about the value of the sale have been released. Liquid Moly announced in December last year that it had broken the €500 million barrier for annual sales for the first time, meaning the year would see a record amount of sales. The company put this increase down to a better than planned performance in the domestic market of Germany and Austria despite an already strong market position. In addition, it noted the export market is growing on many fronts. Two countries in particular stood out: Russia and China.