MBO sees new board appointed at established chemicals company

From left: Jamie Clark, Sarah Oliver, Paul McCormack, Cath Buckley, Eric Seddon

A Manchester chemicals manufacturer has completed a management buyout, for an undisclosed sum, in its 60th year since foundation.

Lakeland Laboratories, based in Astley, has appointed a new board of directors, as a consequence of the MBO.

Facilitating the exit and retirement of three major shareholders, the buyout marks the start of an exciting step forward for the global chemicals supplier, which researches, develops and manufactures a range of speciality amphoterics, wax emulsions, phosphate esters and bespoke surfactant blends for sectors including automotive, agrochem, industrial cleaning and oilfield.

The new board is led by managing director Paul McCormack, joined by Eric Seddon (finance director), Cath Buckley (sales director), Sarah Oliver (technical director) and Jamie Clark (engineering director). Former shareholder John Thomson stays on as production director.

Lakeland Laboratories has grown successfully over 60 years, distributing speciality chemicals both within the UK and globally in more than 27 countries.

The MBO gives the new board opportunity and resource to expand Lakeland’s international export business, and to grow the company’s talent and services at its Greater Manchester plant.

Paul McCormack said: “The new board thanks Lakeland’s previous directors for their dedication over the past years, and for completing this MBO which enables us to secure our position in the marketplace and provide job security and new opportunities for our talented team.

“This exciting new era for Lakeland, starting as the company celebrates its 60th anniversary, allows us to drive Lakeland forward with new ideas which are backed by our board’s significant experience in the chemicals industry.”

He added: “Lakeland has always held customer care and quality as our top priorities, and this remains the case throughout this important business change. We’re looking forward to growing Lakeland, to working closely with our customers, distributors and suppliers, and continuing our contribution to Greater Manchester’s manufacturing and export success.”

Lakeland’s new board was advised by Hill Dickinson Liverpool’s corporate team, and accountants Leavitt Warmsley Associates.

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