Calumet Specialty Products Partners LP

Calumet Specialty Products Partners LP

Calumet Specialty Products Partners LP

Overview
Date Founded

2005

Headquarters

2780 Waterfront Parkway East Drive, Suite 200, Indianapolis, IN, 46214, USA

Type of Company

Public

Employees (Worldwide)

1,500

Industries

Oil & Gas
Industrial Machinery & Manufacturing
Power & Utilities
Chemicals

Company Description

Calumet Specialty Products Partners LP engages in the production of specialty hydrocarbon products. It operates through the following segments: Specialty Products, Fuel Products and Corporate. The Specialty Products segment produces lubricating oils, solvents, waxes, synthetic lubricants and other products. The Fuel Products segment involves in processing of crude oil into fuel and fuel-related products, including unleaded gasoline, diesel, and jet fuel, asphalt and other products. The Corporate segment consists of general and administrative expenses not allocated to the specialty products or fuel products segments. The company was founded on September 27, 2005 and is headquartered in Indianapolis, IN.

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Executives & Employees

Chief Executive Officer

Chief Executive Officer

Executive Vice President & Chief Financial Officer

Executive Vice President-Operations

Chief Financial Officer, Finished Lubricants & Chemicals

Executive Vice President-Strategy & Growth

Executive Vice President-Commercial

General Counsel

Lead Designer

Director of Investor Relations

Board of Directors

Executive Vice Chairman of the Board at Calumet Specialty Products Partners LP

Chief Executive Officer at Heritage Ministries

Future Chief Executive Officer at Calumet Specialty Products Partners LP (Effective 06/2020)

Director at Asphalt Materials, Inc.

Executive Vice President, Growth & New Ventures at The Heritage Group (Indiana)

Former Vice President-Corporate Planning & Economics at CITGO Petroleum Corp.

Former Manager-US Refining & Marketing Planning at Exxon Mobil Corporation

Former Senior Vice President & President-Lubrizol Additives at The Lubrizol Corporation

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Owners & Shareholders
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Adams Asset Advisors offers advice and recommendations on all types of investments, including equities, corporate debt, municipal securities, U.S. government securities, investment company securities, options on securities and interests in partnerships. They suggest overall asset allocations and specific investments but tailor their advisory services to the individual needs of their clients.

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David M. Knott Partnership seeks to invest in stocks with low valuation multiples, negative Wall Street impressions, growth catalysts, low risk, quality management teams, strong earnings and strong balance sheets. The firm selects stocks using bottom-up research that combines qualitative and quantitative analysis.

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Lonestar Capital Management's investment strategy is based on rejection of the efficient market hypothesis. The firm seeks to exploit material mispricing among investments by knowing more than the market does about their targeted investment opportunities. Lonestar invests in debt and equity securities based on a value-oriented approach. Investment targets include hard-asset industrial and commodity-based businesses, and include bankruptcy and turnaround situations, energy and transportation companies, agricultural concerns and real estate securities. The firm may invest in securities of any kind, including, but not limited to, illiquid securities, private claims of distressed companies, and investments based on their macroeconomic analysis, which are typically made through buying or selling sovereign debt or credit default swaps, interest rate swaps or other currency or commodity related instruments. Evaluation of a target company's balance sheet and cash flow statement is of prime consideration in developing the investment thesis. Lonestar continually engages in a search for secular, industry-wide trends so that multiple investments can be made along a common theme. Lonestar invests on both the long and short sides of the market. Particular emphasis is placed on companies with complicated balance sheets that may result in multiple as well as arbitraged investment positions within a single company's capital structure. The firm also seeks out intra-industry hedged positions when material mispricing is observed.

Recent Transactions
Details Hidden

Calumet Specialty Products Partners LP purchases Biosynthetic Technologies, Inc. from BP Ventures, Evonik Venture Capital GmbH

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Q'Max Solutions, Inc., Q'Max America, Inc. purchase Anchor Drilling Fluids USA LLC from Calumet Specialty Products Partners LP

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Husky Energy, Inc., Husky Superior Refining Holding Corp. purchase Calumet Superior LLC from Calumet Specialty Products Partners LP

Insider Transactions
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Transaction Advisors
Underwriter

Advised onCalumet Specialty Products Partners LP issued USD Common Units

Underwriter

Advised onCalumet Specialty Products Partners LP issued USD Common Units

Underwriter

Advised onCalumet Specialty Products Partners LP issued USD Common Units

Underwriter

Advised onCalumet Specialty Products Partners LP issued USD Common Units

Managing Director

Advised onCalumet Specialty Products Partners LP issued USD Common Units

Legal Advisor

Advised onCalumet Specialty Products Partners LP, Calumet Lubricants Co. LP purchase Anchor Drilling Fluids USA LLC from American Capital Asset Management LLC, GarMark Advisors LLC

Advisors & Consultants
Advisor

Former Executive Vice President, Chief Accounting Officer & Chief Financial Officer at Calumet Specialty Products Partners LP

Clients

DuPont de Nemours, Inc. operates as a holding company, which engages in the development of specialty materials, chemicals, and agricultural products. It operates through the following segments: Electronics & Imaging; Nutrition & Biosciences; Transportation & Industrial; Safety & Construction, and Non-Core. The Electronics & Imaging segment provides permanent and process chemistries for the fabrication of printed circuit boards to include laminates and substrates, electroless and electrolytic metallization solutions, as well as patterning solutions and materials and innovative metallization processes for metal finishing, decorative, and industrial applications. The Nutrition & Biosciences segment provides solutions for the global food and beverage, dietary supplements, pharma, home and personal care, energy and animal nutrition markets. The Transportation & Industrial segment engineering resins, adhesives, silicones, lubricants and parts to engineers and designers in the transportation, electronics, healthcare, industrial and consumer end-markets to enable systems solutions for demanding applications and environments. The Safety & Construction segment provides engineering products and integrated systems for a number of industries including, worker safety, water purification and separation, aerospace, energy, medical packaging and building materials. The Non-Core segment supplier of key materials for the manufacturing of photovoltaic cells and panels, including SOLAMET metallization pastes, TEDLAR backsheet materials, and FORTASUN silicone encapsulants and adhesives. The company was founded on September 1, 2017 and is headquartered in Wilmington, DE.

L Brands, Inc. engages in the retail business. It is focused on women's intimate and other apparel, personal care and beauty categories. It operates its business through the following segments: Victorias Secret, Bath & Body Works, and Victoria's Secret and Bath & Body Works International. Its brands include Victorias Secret, Bath and Body Works, Pink, La Senza, and Henri Bendel. The company was founded by Leslie Herbert Wexner in 1963 and is headquartered in Columbus, OH.

The Estée Lauder Companies, Inc. engages in the manufacturing of skin care, makeup, fragrance and hair care products. It sells products under the following brand names: Estée Lauder, Clinique, Origins, MžAžC, Bobbi Brown, La Mer, Jo Malone London, Aveda, and Too Faced. Its channels primarily consist of department stores, specialty multi-brand retailers, upscale perfumeries and pharmacies, and prestige salons and spas. The company was founded by Estée Lauder and Joseph Lauder in 1946 and is headquartered in New York, NY.

Key Stats and Financials As of 2019
Market Capitalization
$91.8M
Total Enterprise Value
$1.72B
Earnings Per Share
$-0.55
Revenue
$3.45B
EBITDAMargin
7.18%
Enterprise Value Sales
0.5x
Enterprise Value EBITDAOperating
6.55x
TEVNet Income
-40.22x
Debt TEV
0.84x
Total Debt
$1.44B
EBITDA
$248M
Total Equity
$21.6M
Net Profit
$-42.7M
Three Year Compounded Annual Growth Rate Of Revenue
-0.83%
Five Year Compounded Annual Growth Rate Of Revenue
-9.85%
Non-Profit Donations & Grants Received
$1
12/31/2017
$4
12/31/2016
$32
12/31/2015
Suppliers
BP Plc Power & Utilities | Frederick, MD

BP Plc operates as an integrated oil and gas company. It operates through the following segments: Upstream, Downstream and Rosneft. The Upstream segment engages in the oil and natural gas exploration, field development and production, midstream transportation, storage and processing and marketing and trade of natural gas, including liquefied natural gas and power and natural gas liquids. The Downstream segment refines, manufactures, markets, transports, supplies, and trades crude oil, petroleum, petrochemicals products and related services to wholesale and retail customers. The Rosneft segment engages in investment activities. The company was founded by William Knox D'Arcy on April 14, 1909 and is headquartered in London, the United Kingdom.

LyondellBasell Industries NV Chemicals | Rotterdam, Netherlands

LyondellBasell Industries NV operates as an independent chemical company, which engages in the refinery and production of plastic resins and other chemicals. It operates through the following segments: Olefins and Polyolefins-Americas; Olefins and Polyolefins-Europe, Asia, International, Intermediates; and Derivatives; Refining; and Technology. The Olefins and Polyolefins-Americas segment produces and markets olefins which includes ethylene and ethylene co-products, and polyolefins. The Olefins and Polyolefins-Europe, Asia, International segment offers olefins including ethylene and ethylene co-products, polyolefins and polypropylene compounds. The Intermediates and Derivatives segment makes propylene oxide and its co-products and derivatives, acetyls, and oxygenated fuels. The Refining segment supply gasoline and diesel fuel. The Technology segment develops chemical and polyolefin process technologies and manufactures and sells polyolefin catalysts. The company was founded in December 2007 and is headquartered in London, the United Kingdom.

Phillips 66 Retail: Other | Houston, Texas

Phillips 66 engages in the processing, transportation, storage, and marketing of fuels and other related products. The company operates through the following segments: Midstream, Chemicals, Refining and Marketing & Specialties. The Midstream segment provides crude oil and refined products transportation, terminaling and processing services, as well as natural gas, natural gas liquids and liquefied petroleum gas transportation, storage, processing and marketing services. The Chemicals segment produces and markets petrochemicals and plastics on a worldwide basis. The Refining segment Refines crude oil and other feedstocks into petroleum products such as gasoline, distillates and aviation fuels. The Marketing and Specialties segment purchases for resale and markets refined petroleum products such as base oils and lubricants, as well as power generation operations. Phillips 66 was founded on April 30, 2012 and is headquartered in Houston, TX.

Competitors
Chevron Corp. Oil & Gas - San Ramon, California

Chevron is one of the world's leading integrated energy companies and conducts business worldwide. Our success is driven by our people and their commitment to get results the right way—by operating responsibly, executing with excellence, applying innovative technologies and capturing new opportunities for profitable growth. We are involved in virtually every facet of the energy industry. We explore for, produce and transport crude oil and natural gas; refine, market and distribute transportation fuels and lubricants; manufacture and sell petrochemical products; generate power and produce geothermal energy; provide energy efficiency solutions; and develop the energy resources of the future, including research for advanced biofuels.

Koch Industries, Inc. Chemicals - Wichita, KS

Koch Industries, Inc. began as Wood River Oil and Refining Co. in 1940. The company is based in Wichita, Kansas and is one of the largest private companies in America. Its major industries include refining, chemicals & biofuels, process & pollution control equipment and technologies, minerals, fertilizers, polymers & fibers, commodity trading & service, forest & consumer products, and ranching.Koch companies have supported education and social progress. These philanthropic efforts include support for educational institutions, foundations and programs that study and promote market-based solutions to societal challenge. Koch also works to protect, conserve and enhance natural resources; Koch companies around the world have earned awards for safety, environmental excellence, community stewardship, innovation and customer service since January 2009.

Marathon Petroleum Corp. Oil & Gas - Findlay, Ohio

Headquartered in Findlay, Ohio in the heart of the Midwest, Marathon Petroleum Corporation (MPC) is the name of the parent company which includes several subsidiary companies including Marathon Petroleum Company LP, Marathon Pipe Line LLC, and Speedway LLC. MPC is the nation’s fifth largest refiner and the largest refiner in the Midwest. MPC’s refining, marketing and transportation operations are concentrated primarily in the Midwest, Gulf Coast and Southeast regions of the U.S. MPC operations are strategically located to serve major markets. They include a six-plant refining network, a comprehensive terminal and transportation system, and extensive wholesale and retail marketing operations. This includes both the Marathon Brand and MPC’s wholly owned retail marketing subsidiary, Speedway LLC, the nation’s fourth largest chain of company-owned and operated retail gasoline and convenience stores.

Awards & Honors
Rank #571
2016
Fortune Magazine - Fortune 1000 Companies
Sponsored by Fortune Magazine
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