Petronord’s business activities with the established lubricant supplier represent the company’s intent to expand its operations in Sweden in the near future. It already acquired the oil company PS Olje earlier this year, in July.
Headquartered in Angered, Sweden, Swelube specializes in automotive lubricants. Although its B2B customers come from across Scandinavia, its focus is on Sweden.
Mikael Fredriksson has been managing director of the lubricant supplier since 2013, and will continue to serve in this role with Petronord on board. Petronord’s stake in Swelube is the company’s 30th holding. The rest of the shares will remain in the hands of owners Dan Ribba and Johan Söderlund in equal parts.
Petronord is a subsidiary of Mabanaft, the trading division of Marquard & Bahls, Germany. Under the umbrella of Petronord, retail companies in Germany, Austria and Sweden are active in the heating oil and diesel end-consumer business, the lubricants distribution, the operation of service stations for commercial trucking fleets ("pool stations") as well as in the trading of bitumen, wood pellets, and natural gas.