Lubrication Specialties (LSI) CEO and founder Chris Gabrelcik has announced his retirement, effective as of the end of June, according to a press release.
Gabrelcik founded LSI in 1997 with the intent to sell lubrication services to industrial and commercial accounts, the company’s top clients at the time being Nucor Steel, Showa, Midwest Industries, X-Tec, and International Truck and Engine.
In 2005, the company announced Hot Shot’s Secret Stiction Eliminator, the first diesel fuel additive from Hot Shot’s Secret meant for the automotive aftermarket, which has since expanded into a line of more than 50 products.
Most of LSI’s assets were sold by Gabrelcik to Gold Eagle Company in June of 2022. Gabrelcik agreed to stay on as CEO for one year, which will officially come to a close as of June 30, 2023.
“It is hard to believe that what began as a home garage-based business developed in time to provide employment in my local community for seventy people that I have grown to care about and respect,” Gabrelcik stated.