A long-standing distributor of industrial and automotive lubricants has been purchased by a leading UK firm.
Broughton Lubricants, based at Walton Summit, Preston, employs 24 staff and distributes Castrol and other industrial products throughout the North of England.
The company has been sold to Certas Energy, the UK’s leading independent distributor of fuel and lubricants. The deal will allow Certas Energy to further strengthen its position in the market, particularly with the Castrol brand.
The Hodge family, which currently owns Broughton Lubricants, will exit as part of the transaction.
David Hodge, CEO, said: “This transaction will allow the business to build on the continuous growth of the last few years.
“Certas Energy are gaining an excellent team to continue offering the same excellent service which the customers have come accustomed to and are now well placed in the UK to grow the market share even more. I wish all our staff and customers best wishes for the future.”
The company was advised on the sale by accountancy and business advisory firm MHA Moore and Smalley. The transaction team was led by Ian Waddingham (senior corporate finance manager) along with Paul Williams (partner) and David Hackett (tax director).
Harrison Drury provided legal advice to Broughton Lubricants on the deal. The deal team included corporate solicitor Jack Stephenson, employment specialist Kate Shawcross and property specialist Amanda Marwood.
David Hodge added: “I would like to thank MHA Moore and Smalley for their usual professionalism in dealing with the sale, the same for the team at Harrison Drury.”
Ian Waddingham, MHA Moore and Smalley said: “The Hodge family has been a client of the firm for a number of years. We’re pleased to have worked alongside them on an important transaction and gained an excellent result.
“The purchase is also an important one strategically for Certas. Taking the reins at Broughton Lubricants will help them to gain a firm foothold in the North West as they look to further growth in the coming years.”
Warrington-based Certas, which employs around 2,300 UK staff, is a subsidiary of international sales, marketing and distribution firm DCC PLC, a FTSE 100 company.
Tony Stewart, managing director, European lubricants, Certas Energy said, “We believe that this acquisition will create value both for Certas Energy and our customers. It will strengthen our position in the industrial lubricants market, which is an important part of our strategic vision for the future.”
For more information please contact Broughton who will be happy to answer any questions.