Hindujas-owned Houghton buys Wallover Enterprises in US

Hindujas-owned Houghton International today acquired Wallover Enterprises, a lubricant maker, for an undisclosed valuation. This acquisition marks Houghton's latest strategic investment in the specialty metalworking and industrial fluids segment that enables the company to serve North American manufacturers.

The Hinduja family had acquired lubricant maker, Houghton International in December 2012 for $1 billion. The family has a significant presence in the Indian lubricant market with Gulf Oil. With the acquisition, the group sees synergy benefits for Gulf Oil, which is in the business of lubricants, explosives, mining contracts, and specialty chemicals. The lubricants division, headquartered in Mumbai, figures among the top private sector players in the segment in India. 

 

In a statement today, Sanjay Hinduja, Chairman, Gulf Oil International said Houghton has deepened its leadership in metalworking fluids and industrial lubricants by broadening its product portfolio. “This acquisition enables us to significantly improve our metalworking solutions capability for its customers," said Houghton Chief Executive Officer Mike Shannon. 

Wallover produces and sells a diverse portfolio of fluid products into industrial end markets throughout the U.S. and Canada and provides advanced technical and applications expertise in electrical discharge machining fluids and stainless steel cold rolling oils. The company's specialty fluid products, sales teams and technology resources will complement and expand Houghton's advanced fluid solutions for its customers in North America.