German lubricant specialist Liqui Moly has been bought by the giant retailer, wholesaler and manufacturer Künzelsauer Group. Prior owner Ernst Prost, 60, will remain as Managing Director of Liqui Moly.
|Ernst Prost, 60, will remain |
as Managing Director
It is said that in day-to-day business terms the change of ownership at Liqui Moly is unlikely to result in dramatic changes - business as usual appears to be the message with company will remain independent within the Würth Group and all employees will be taken over. “Everything remains as it is. It would be nonsensical to change anything on the road to success in recent years. It goes on as before - just under a larger roof, which offers more protection,” said Prost.
According to Prost, Liqui Moly is “very healthy”, with the equity ratio at over 80 percent. In 2016 the company achieved a turnover of 489 million euros with some 800 employees.
Würth/Künzelsauer Group (itself still a family business) has around 73,000 employees worldwide, with annual sales of 12.5 billion euros and has been a silent partner in Liqui Moly for almost 20 years.
Founded in 1957, Liqui Moly develops and produces exclusively in Germany, with around 4,000 automotive chemicals, motor oils and additives, greases and pastes, sprays and car care, glues and sealant items - selling in more than 120 countries.