Houlihan Lokey Advises Kano Laboratories

Houlihan Lokey is pleased to announce that Kano Laboratories (Kano), a portfolio company of Gryphon Investors (Gryphon), has been acquired by L Squared Capital Partners (L Squared). The transaction closed on December 17, 2024. 

Founded in 1939, Kano is a leading manufacturer of iconic Kroil®-branded penetrating oils used to loosen corroded metal parts. Gryphon acquired Kano in 2020, with Houlihan Lokey acting as the sellside advisor. In early 2024, Kano acquired Synco Chemical Corp., a manufacturer of food-grade greases, oils, and lubricants sold under the Super Lube brand. 

The company serves diverse professional users in the industrial maintenance, repair, and operations sector and specialty trades. Over the company’s long-standing history, both brands have developed a passionate, enthusiastic customer base for their best-in-class products, which professionals and DIY enthusiasts trust to solve high-cost, mission-critical problems. 

Over the course of its investment, Gryphon successfully executed a thesis centered on upgrading the management team, enhancing the go-to-market strategy, entering new distribution channels, and building out the product portfolio both organically and via acquisition.

Houlihan Lokey served as the financial advisor to Gryphon. This transaction highlights Houlihan Lokey’s deep knowledge of the lubricants and fluids sector as well as the collaboration between the chemicals and branded consumer sectors. 

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