Disclosed is an apparatus for preparing and dispensing a lubricant and coolant liquid product including a body with a base that defines a support surface for at least one container of an additive product and having a collection tank above which the container can be positioned, a storage reservoir of water suppliable from a water source, a mixing unit in communication with the reservoir and with the at least one container of the additive product, to mix the water and the additive product in a predetermined concentration, first pumping means adapted to pump the water from the reservoir toward the mixing unit, a control unit to control at least the first pumping means, and a dispensing circuit for dispensing the lubricant and coolant fluid obtained in the mixing unit. The body further includes a containing structure that encloses one, several or all the aforesaid components.