Harrison Drury’s corporate team has advised Broughton Lubricants, a longstanding distributor of industrial and automotive lubricants, on its sale to 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.”
Harrison Drury’s corporate and commercial team 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.
The company was also advised on the sale by accountancy and business advisory firm MHA Moore and Smalley whose transaction team was led by Ian Waddingham (corporate finance senior manager) along with Paul Williams (partner) and David Hackett (tax director).
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.”
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.”