Derbyshire firm completes slick acquisition
Derbyshire-based industrial lubrication company Aztec Oils has acquired the lubricant, pre-packaged fuel and contract packing business of Multispec for an undisclosed sum.
Multispec, previously known as Caldo Oils, has been in business since 1922.
The terms of the acquisition will see Bolsover-headquartered Aztec take over Caldo’s manufacturing facilities in St Helens as well as its 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, while Andrew Fielder and Katie Ash of Banner Jones provided legal advice. Matthew Chenery from Barclays Bank provided funding for the deal.
Mark Lord, managing director of Aztec, said: “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, added: “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.”
