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Lubrizol to Buy Croda’s Refrigerant Lubricants Unit

9:00 AM MDT | September 12, 2007 | Kerri Walsh

Lubrizol has agreed to buy Croda International’s refrigeration lubricants business for £62 million ($124.6 million). Of that, £59.6 million will be payable in cash at the close of the deal, and the balance will come from the release of retained working capital, Croda says. Croda’s business complements Lubrizol’s existing refrigeration lubricants unit, which is served by the company’s CPI Engineering Services (Midland, MI) subsidiary, Lubrizol says. The deal includes Croda’s polyol ester and alkyl benzene refrigeration...

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