Junction Capital Partners and Ara Partners Group Announce Investment in PURAGLOBE
WAYNE, PA and HOUSTON, TX, August 8, 2018 – Junction Capital Partners (“Junction”), a Houston-based private equity firm, and Ara Partners Group (“Ara Partners”), an alternative asset manager focused on the energy, industrial and infrastructure sectors, today announced a significant joint investment in Puralube, Inc. (“PURAGLOBE”), a technology platform with a proprietary process for producing high-quality base oils, using recycled oil as feedstock. Allied Resource Corporation (“Allied”), the founding shareholder, will maintain a substantial stake in PURAGLOBE alongside Ara Partners and Junction.
PURAGLOBE, which is headquartered in Wayne, Pennsylvania, currently operates a facility in Zeitz, Germany and is developing another facility in Tampa, Florida. PURAGLOBE is uniquely situated to be able to produce Group III base oils using its proprietary technology.
Rob Johnson, a Partner of Junction, commented, “PURAGLOBE fits well within our portfolio of specialty downstream energy assets and benefits from strong tailwinds as regulatory drivers and consumer preferences support increased demand for Group III base oils. PURAGLOBE is well-situated to capitalize on these market opportunities given the quality of its products and strength of its management team, led by CEO Andreas Schueppel.”
“PURAGLOBE’s focus on sustainability and developing next-generation base oils complements Ara Partners’ central investment themes, which are tied to the ongoing energy transition, and positions the company well for future growth within its industry,” said Troy Thacker, Managing Partner of Ara Partners. "We look forward to working with Junction, Allied and PURAGLOBE management to take the company to the next level of its development.”
Andreas Schueppel, CEO of PURAGLOBE, said, “We are delighted to partner with such seasoned energy investors. Our collective experience and bench strength is significant, and we expect to leverage these advantages in driving PURAGLOBE’s growth over the coming years.”
Riverside Management Group, LLC and Triple A Partners LLC acted as advisors to PURAGLOBE.
PURAGLOBE Media Relations