Acquisition sees expansion for Aztec Oils
Leading industrial lubrication specialist Aztec Oils has completed the acquisition of the lubricant, pre-packaged fuel and contract packing business of Multispec Limited (formally “Caldo Oils”), for an undisclosed sum.
North Derbyshire based Aztec Oils manufactures and distributes high performance lubricants to a wide range of industrial sectors and is fully committed to building long term relationships with its ever growing number of world-wide customers.
The terms of the acquisition will see Aztec procure Caldo’s manufacturing facilities in St Helens (Merseyside) along with distribution operations in Newton Abbot (Devon) and Rhuddlan (North Wales).
John Longstaff and John Warner from BHP Corporate Finance acted as lead advisors to Aztec Oils with tax advice being provided by Mark Cooper and Katherine Taylor. Andrew Fielder and Katie Ash from Banner Jones provided legal advice. Funding for the transaction was delivered by Matthew Chenery from Barclays Bank.
Mark Lord, Managing Director of Aztec commented “This venture really excites us. It gives us a great opportunity to develop our retail packaged range, offering both Aztec’s branded products, whilst at the same time growing our private label offering”.
John Longstaff, director at BHP Corporate Finance, commented, “we are delighted to have advised Aztec on this strategic transaction. Caldo is a perfect fit and I am confident that Mark and the team at Aztec will maximise the benefit of the opportunities afforded to the enlarged group.”.
Andrew Fielder, director at Banner Jones, commented, “this acquisition will enable Aztec to further expand its offering to existing customers, as well as reach into new markets, with new products and an increasingly impressive geographic footprint.
“We are pleased to have been able to support Aztec with its legal requirements throughout the transaction, and wish the company every luck for the future of the business as it continues to grow.”
Matthew Chenery at Barclays went on to say, “It’s great to see Aztec Oils going from strength to strength, demonstrating a real thirst for expansion and growth. We’re thrilled to be supporting this latest exciting acquisition which sets them up well to exploit future market opportunities”.
