Fri, 29 Jun 2018 | BUSINESS SALE
Whyte Chemicals, a chemicals distribution business based in north London and Denaby, South Yorkshire, has been acquired out of administration by the Oxfordshire-based UK division of Germany's OQEMA. All employees will transfer over to the new company OQEMA Whyte Ltd, and operations will be conducted under the Whyte name.
Founded in 1976, Whyte Chemicals is based in North London with a flagship distribution centre on a nine-acre site in Denaby, South Yorkshire.
The company was forced to restructure its credit facilities earlier this year and Andrew Andronikou and Paul Zalkin were appointed as joint administrators.
Mr Andronikou said: “The last few months have been a testing time for the suppliers, customers and loyal staff of Whyte Chemicals Ltd. Without their forbearance and understanding the job of rescuing this leading name in the chemical distribution industry would not have been possible.”
The chemical distribution business is considered to be one of the largest privately owned distributors of chemicals in the UK, with an annual turnover of around £70m. It is said that more than 40 jobs have been saved from the acquisition.
Robert Moss, managing director of OQEMA Ltd said: "We are delighted to welcome a strong force in the UK chemical distribution industry into the OQEMA family. Whyte Chemicals has been a driving force in the industry and we are excited about the possibilities that lie ahead. We believe the new company will be able to capitalise on the solid business created by Melvyn Whyte over 40 years ago."
Previously known as Lansdowne Chemicals, OQEMA Ltd is based in Carterton, Oxfordshire, and owned by German-based Overlack AG since 2015.
Joint administrator, Mr Zalkin added: “Despite unexpected difficulties and significant external challenges [this] hopefully delivered a fantastic result. We wish all concerned the very best for a bright future.”
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