AAK sells its biolubricants business to Quaker Chemical
AAK has divested its biolubricants business, Binol, to Quaker Chemical, a leading global provider of process fluids and chemical specialties.
AAK’s Binol business is a leading provider of vegetable-based biolubricants to the metal working, sawmill, and forestry and construction industries in the Nordic countries with annual net sales of approximately SEK 100 million and around 20 employees.
AAK is one of the world’s leading producers of high value-added speciality vegetable oils and fats with production facilities in Belgium, Colombia, Denmark, Mexico, the Netherlands, Sweden, Great Britain, Uruguay and the US. AAK’s shares are traded on the Nasdaq Stockholm, within the Large Cap segment.
AAK was advised by Mannheimer Swartling in the transaction. The firm’s team was led by Åsa Hansdotter and included Emma Ravheden, Fredrik Heldqvist and Daniel Kolm. Madeleine Rydberger and Henric Diefke advised on employment law and pension related issues and Per Molander and Therese Strömshed on environmental law matters.