Würth Group takes over lubricant specialist Liqui Moly
Künzelsau. The Würth Group is taking over the Ulm-based company Liqui Moly GmbH, purchasing all shares from the managing partner, Ernst Prost, effective as of 1 January 2018. With this transaction, the Würth Group will become the sole owner of Liqui Moly GmbH, a globally operating and successful manufacturer of high-quality lubricants, engine oils, additives and other vehicle care products. The Würth Group will continue operating Liqui Moly as an autonomous company with an independent brand within the Würth Group. In fiscal year 2016, Liqui Moly generated sales of approximately EUR 500 million with more than 800 employees. The transaction still needs to be approved by the responsible regulatory authorities.
“Over the past few years, Liqui Moly has shown an outstanding performance and developed into a real success story. The company owes this achievement mostly to the work of managing partner Ernst Prost and his employees,” said Peter Zürn, Deputy Chairman of the Central Managing Board of the Würth Group. “We are proud that this successful and established brand, which is known for its outstanding reputation and great dynamics, will enrich the portfolio of the Würth Group. Our objective is the sustained successful development of Liqui Moly in the future. This is why we will continue to put our faith in the entrepreneurial expertise of Ernst Prost, just as we have done in the past 20 years as a silent partner at Liqui Moly,” Zürn continued.
To ensure continuity in the management in the long term, Ernst Prost (60) will remain managing director of Liqui Moly after the sale of his shares. In addition, the long-standing head of sales at Liqui Moly, Günter Hiermaier (52), will be appointed second managing director, effective as of 1 March 2018. Together, Günter Hiermaier and Ernst Prost will form the management team of Liqui Moly.
About Liqui Moly
With around 4,000 items, Liqui Moly offers a unique range of chemicals for the automotive sector: engine oils and additives, greases and pastes, sprays and car care products, adhesives and sealants. Liqui Moly was founded in Germany in 1957. The company manufactures exclusively in Germany, where it is the undisputed market leader for additives and has repeatedly been named the best oil brand on the market. Headed by the managing partner Ernst Prost, Liqui Moly distributes its products in more than 120 countries, generating sales of EUR 489 million in the previous year.
About the Würth Group
The Würth Group is the world's market leader in its core business, the trade in assembly and fastening materials. It currently consists of more than 400 companies in over 80 countries with more than 74,000 employees on its payroll. Approximately 32,000 of them are salaried sales representatives.
In the Group's core business, the Würth Line, the sales program for the trades and industry comprises more than 125,000 products: from screws, screw accessories and anchors to tools, technical chemicals and personal protective equipment.
The Allied Companies of the Würth Group, which either operate in business areas related to its core business or in diversified business areas, round off the range by offering products for DIY stores, material for electrical installations, electronic components such as circuit boards, and financial services. They account for more than 40 percent of the Würth Group's sales volume.