Parman Energy Group to Acquire Chevron Business from Lube-Tech & Partners

ParmanEnergyGroupParman Energy Corporation, now Parman Energy Group, announced its upcoming acquisition of Lube-Tech & Partners’ (Lube-Tech) Chevron branded lubricants business in early March 2018. Under terms of the agreement, Parman Energy Group will acquire most of Lube-Tech’s Chevron-centric customer base. With this arrangement, both Parman Energy Group and Lube-Tech customers will continue to receive the same products and services they receive today, with the same level of uninterrupted customer service and support.

Parman Energy Group’s Upper-Midwest regional headquarters will be located in St. Cloud, MN, with additional distribution locations in Roseville, MN and Des Moines, IA. Parman Energy Group’s employee base will be comprised of Lube-Tech employees, including customer service, sales, drivers and warehouse staff. These Lube-Tech employees will become Parman Energy Group employees in early March 2018. Lube-Tech will continue to directly provide recycling, fuel and equipment products and services to Parman Energy Group customers.

“Lube-Tech is a family-owned company with a mission to make tomorrow a little bit better than today for each other, for our customers, and for our community” says Lube-Tech Chairman, Chris Bame. “Above all, we are proud of the relationships our Lube-Tech family has formed with our customers over the years. As the industry progresses towards more focused supply relationships, our new service arrangement with Parman Energy Group ensures our Chevron customers will have the right team and product offering to take their business performance to the next level.”

“Parman Energy was founded as a family owned business and is now 100% employee owned” says Steve Moore, Parman Energy Group’s President and CEO. “Our entry into the Upper-Midwest market is a key element in Parman’s overall growth strategy, and we look forward to bringing our trademark level of Totally Outrageous Customer Service to our customers there. Parman Energy Group shares Lube-Tech’s values and operating philosophies and is privileged to be able to continue the customer focused service that Lube-Tech customers have come to expect.”

About Parman Energy Group
Parman Energy Group, formerly Parman Energy Corporation, is an employee owned company that delivers quality lubricant products, diesel exhaust fluid, motor fuels, petroleum equipment, coolants, and related products, solutions and services. Since the mid-1930’s, the Parman name has been a name synonymous with petroleum products in Tennessee and has continued to expand their diverse petroleum product offerings throughout the Eastern U.S. For additional information, please visit the company website at www.parmanenergy.com.

About Lube-Tech & Partners, LLC
Lube-Tech & Partners was formed in June 2016 by the founding companies of Boyer Petroleum (Des Moines, IA), Lubrication Technologies (St. Paul, MN), and Moore Oil (Milwaukee, WI). The merged organization has built upon the founders’ long history of an employee-centric, customer-focused approach to business. As the Midwest’s go-to resource for advanced lubrication and energy solutions, Lube-Tech is driven to help customers accelerate their business performance through a high-octane approach to service – with a mission to make tomorrow a little bit better than today for its employees, customers and the community. Based in St. Paul, MN, Lube-Tech & Partners has operations in Iowa, Minnesota, and Wisconsin and serves commercial, automotive and industrial customers. The company produces and distributes millions of gallons of lubricants and chemicals and employs over 200 people. For more information, visit www.lubetech.com.

Round One Price Increase Summary

With nearly all major lubricant manufacturers announcing adjustments, the first round of finished lubricant price increases in 2018 will make its mark in the history books.

The first announcement JobbersWorld reported on came when CAM2 announced on January 12th that it was pushing through a price increase effective February 5th. This was soon followed by Shell and within three days of the first announcement, most lubricant manufacturers also announced with ExxonMobil only seven days after Shell. A summary of the most recent price increase announcements are shown below and that’s followed by a summary of all finished lubricant price increases JW reported in the first round for 2018.

As of today, the list of companies JobbersWorld reported on that have announced lubricant price increases in 2018 is shown below:

Company
Announced Date
Effective Date
Increase
CAM2 1/12/2018 2/5/2018 6 to 10%
SOPUS Products (Shell Lubricants) 1/15/2018 2/19/2018 up to 5%
Advanced Lubrication Specialties (ALS)
1/16/2018 2/5/2018 6 to 10%
Sinclair Lubricants 1/17/2018 3/1/2018 up to 6%
Chemlube 1/18/2018 2/5/2018 $0.20 to 0.25/gal
Nu-Tier Brands 1/18/2018 2/19/2018 6 to 8%
Martin Lubricants 1/18/2018 2/16/2018 4 to 7%
Safety-Kleen 1/18/2018 2/19/2018 5 to 8%
Pinnacle Oil 1/19/2018 2/6/2018 6 to 10%
Royal Mfg 1/22/2018 2/26/2018 5 to 8%
ExxonMobil 1/22/2018 2/26/2018 up to 6%
Reliance Fluid Technologies (RFT) 1/22/2018 2/26/2018 5 to 9%
Chevron 1/22/2018 3/1/2018 up to 5%
Warren Oil 1/22/2018 2/23/2018 4 to 10%
CITGO 1/23/2018 2/23/2018 5 to 8%
Petro-Canada 1/24/2018 2/23/2018 Lubricants up to 6%
Process Oils and Purity FG White Oils $0.10/gal
Warren Distribution 1/24/2018 2/26/2018 6 to 9%
Smitty’s Supply 1/24/2018 2/12/2018 lubricants 6 to 10%
Greases 3cpp
Phillips 66 1/25/2018 3/5/2018 up to 5%
Old World Industries 1/29/2018 2/12/2018 6 to 10%
BP Lubricants USA (Castrol excluding industrial) 1/29/2018 3/12/2018 up to 6%

News on the Wire

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