Calumet, Inc. successfully closed the previously announced sale of assets related to the industrial portion of its Royal Purple® business for $110 million in cash. The buyer is a wholly owned subsidiary of Lubrication Engineers, Inc., a portfolio company of Aurora Capital Partners.
The divested assets include Royal Purple's high-performance synthetic industrial product line, which generated approximately $29 million in total sales during the year ended December 31, 2024. Calumet retained ownership of the Porter, Texas, manufacturing site and the consumer portion of the Royal Purple® business.
The company intends to use the sale proceeds primarily to pay down debt, accelerating its deleveraging strategy. Additionally, Calumet announced the termination of its at-the-market (ATM) equity offering program, which was announced in January 2025 but was never utilized, removing potential future dilution.
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