Transaction: $20,000,000 Private Placement
RMG’s Role: Joint Advisor securing financing through RMG’s institutional investor network
Puralube was formed by Formed by Allied Resource Corporation in 1995 to create a series of specialty refineries producing high quality specialty lube oils from used lube oil by utilizing a breakthrough technology developed by UOP LLC (“UOP”). The UOP technology, known as the HyLube™ Process, efficiently converts used lubricating oils into high quality base oils. Puralube maintains an exclusive worldwide license (except in selected countries in North Africa and the Middle East) to commercialize the HyLube™ Process. UOP, a joint venture between Honeywell International Inc. (Morristown, NJ) and Union Carbide Corporation (Danbury, CT), is a leading international supplier and licensor of process technology, catalysts, absorbents, process plants, and technical services to the petroleum refining, petrochemical, and gas processing industries.