Calumet To Sell Assets Related To Industrial Portion Of Royal Purple Business

(RTTNews) - Calumet (CLMT) has entered into a definitive agreement with a subsidiary of Lubrication Engineers, Inc., a portfolio company of Aurora Capital Partners, to sell assets related to the industrial portion of its Royal Purple business, for $110 million. Key brands within the consumer portion of Royal Purple include: High Performance Motor Oil, HPS, HMX, Max EZ, Max Gear, Max-Clean, XPR, and Duralec Super.

The company expects to use the sale proceeds to primarily pay down debt. Calumet will retain, and continue to grow, the consumer portion of the Royal Purple business and the Royal Purple production facility in Porter, TX.