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Sometimes merging makes sense. Sometimes it gets a little out of hand. Way back in Friday Fax Issue #279 we poked a bit of fun at Lubaduk®, the silicone-based cable lube that tries in vain to compete with Polywater Plus Silicone Types NN and NB, saying "... less than 2 years ago in Friday Fax issue #182, we told you that Lubaduk is taking a circuitous route through the industrial twilight zone, seemingly caught in a swirling vortex of corporate mergers and acquisitions. Originally, cable-in-duct manufacturer Integral Corp. made the product. They sold it to cable manufacturer Southwire, who in turn sold it to duct manufacturer Dura-Line, who was recently acquired by Emerson Electric. Lubaduk was the last item listed in the line of accessory products of the Dura-Line subsidiary of the Connectivity sub-division of the Network Power Division of the $15.5 billion Emerson Electric conglomerate. Guess what. They've moved again. Emerson recently sold Dura-Line to venture capital holding company Sun Capital Partners. To their efforts in maintaining focus and growing Lubaduk sales we say, good luck." But the saga continued. Private equity firm Audax Group then bought Dura-Line from Sun Capital Partners. They also bought Arnco (Hydra-Lube® cable lube and Hydra-Seal® conduit sealant) and merged the two into A-D Technologies, which was later renamed Dura-Line Holdings. Then earlier this year Audax Group sold Dura-Line Holdings to Chicago-based CHS Capital. Their news release says that funds for the investment come from CHS Private Equity V LP, a $1.3 billion investment fund, and represent a partnership among CHS Capital and GSO Capital Partners LP. We are confused. |
