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FL Selenia is a leading independent specialist in the development, production and distribution of lubricants and functional oils used in commercial and agricultural vehicles. Its product range (over 1,500 items) includes lubricants, anti-freeze, transmission and engine fluids for automobiles, trucks, tractors and earth moving equipment as well as for marine and industrial applications. Selenia’s products are mainly positioned in the high value-added segment with the majority of its sales arising from innovative semi-synthetic and synthetic lubricants. The company reaches over 150,000 consumers worldwide through an extensive network of sales people and of independent but exclusive distributors, including Blu Officina, Italy's largest independent network of automotive repair shops. Selenia has established technical and commercial relationships with several major OEM customers, notably Fiat Auto, Case New Holland and Iveco.
The Selenia management team including the chief executive officer Aldino Bellazzini will remain in place.
Commenting on the sale, Reinhard Gorenflos, Member of KKR, said: “We are very pleased to be announcing the sale of Selenia today, having contributed significantly to the development of the business over the last two years. PETRONAS is a world class industrial business and today’s announcement of their investment in Selenia emphasises the progress that KKR and the Selenia management team together have made in building a high-quality business with a strong market position.”
Established in 1976, KKR is a leading global alternative asset manager. The core of the Firm’s franchise is sponsoring and managing funds that make private equity investments in North America, Europe, and Asia. Throughout its history, KKR has brought a long-term investment approach to portfolio companies, focusing on working in partnership with management teams and investing for future competitiveness and growth. Additional funds that KKR sponsors include KKR Private Equity Investors, L.P. (Euronext Amsterdam: KPE), a permanent capital fund that invests in KKR-identified investments; and two credit strategy funds, KKR Financial (NYSE: KFN) and the KKR Strategic Capital Funds, which make investments in debt transactions. KKR has offices in New York, Menlo Park, San Francisco, London, Paris, Hong Kong, and Tokyo.
PETRONAS, the acronym for Petroliam Nasional Berhad, is wholly-owned by the Malaysian government and is vested with the entire ownership and control of the petroleum resources in Malaysia. Over the years, PETRONAS has grown to become a fully-integrated oil and gas corporation and is ranked among Fortune Global 500's largest corporations in the world. PETRONAS has four subsidiaries listed on the Bursa Malaysia and has ventured globally into more than 33 countries worldwide in its aspiration to become a leading oil and gas multinational of choice. Since its inception, PETRONAS' business has grown to encompass the full spectrum of oil and gas operations, both locally and globally, in the areas of upstream oil and gas exploration and production (E&P) to downstream oil refining; marketing and distribution of petroleum products; trading; gas processing and liquefaction; gas transmission pipeline network operations; marketing of liquefied natural gas (LNG); petrochemical manufacturing and marketing; shipping; and property investment.
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