Würth Group Acquires "Liqui Moly"
Künzelsau, Germany-based The Würth Group is taking over Ulm, Germany-based 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 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 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, 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.
The Würth Group is a worldwide wholesaler of fasteners, screws and screw accessories, dowels, chemicals, electronic and electromechanical components, furniture and construction fittings, tools, machines, installation material, automotive hardware, inventory management, storage and retrieval systems.