The Reed Smith team was led by partners Morley Fortier and Nicholas Gibson and new associate Michelle Kraus.
King of Prussia, Pa.-based PetroChoice is the largest U.S. distributor and manufacturer of value-added lubricant solutions for the industrial, commercial and passenger vehicle segments. PetroChoice product offerings include ExxonMobile, as well as several licensed proprietary brands, including Medallion-Plus, Dyna-Plex 21C and Eco-Ultra.
Felix Lo, a managing director for Golden Gate Capital, said: “We have enjoyed a successful partnership with PetroChoice and are proud to have helped the company become the clear market leader it is today. Since 2015, we have supported the company with the pursuit of several strategic areas of focus, including footprint expansion, full deployment of its leading-edge technologies, growing its premium and proprietary brand offerings, strengthening its key partnerships and executing complementary acquisitions.”
The acquisition establishes a market-leading presence for Moove in the U.S. lubricants market, while supporting the continued development of PetroChoice and its growth plans.
More information about the transaction is available in the news release.