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Junction Energy, Ara Partners invest in base-oil producer Puralube

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Junction Energy, Ara Partners invest in base-oil producer Puralube

Houston-based private equity firm Junction Energy Capital and alternative asset manager Ara Partners Group co-invested an undisclosed amount in base-oil producer Puralube Inc., which does business as PURAGLOBE.

Founding shareholder Allied Resource Corp. will retain a "substantial stake" in PURAGLOBE, which produces oils using recycled oil as feedstock, the companies said in a release. Headquartered in Wayne, Pa., PURAGLOBE operates a production facility in Zeitz, Germany, and is developing another in Tampa, Fla.

Riverside Management Group LLC and Triple A Partners LLC advised PURAGLOBE.