Shell completes MIDEL purchase, appoints New as Managing Director
Shell Lubricants (Shell) has completed its purchase of ester fluid businesses MIDEL and MIVOLT from M&I Materials Ltd
Richard New, the new Managing Director (Image credit: MIDEL)
Shell Lubricants (Shell) has completed its purchase of ester fluid businesses MIDEL and MIVOLT from M&I Materials Ltd.
MIDEL ester transformer fluid was developed in the 1970s with the brand now comprising a range of four ester fluids, while MIVOLT is a range of immersion cooling liquids. The deal creates a new Shell portfolio company, and Mr. Richard New has been appointed its Managing Director, it was announced today.
He has most recently led Shell’s Fleet Solutions fuel business during his seventeen years at Shell. He is the successor of Barry Menzies who announced his retirement in September 2023, and who will be retained in an advisory capacity, supporting the leadership team during the changeover.
He commented: “This strategic acquisition not only acknowledges a flourishing global ester fluid market, it also harnesses the power of two thriving and respected brands. I extend my thanks to Barry for the leadership that has made MIDEL a dominating brand in the energy industry. I also thank the wider M&I Materials team for their unwavering support throughout the deal process and forthcoming transition period. MIDEL and MIVOLT represent an incredibly exciting launch pad for future growth – both products offering tangible advantages to an energy world demanding ever more sustainable solutions.”
Source: MIDEL