Sun, 03 May 2026 | BUSINESS SALE
Indianapolis-based fluid analysis group POLARIS Laboratories has acquired Oil Check Laboratory Services Limited (OCLS), a Doncaster-based lubricant and diesel fuel testing laboratory, in a transaction completed on 30 April 2026. The deal marks Polaris's first dedicated foothold in the UK and European market.
No purchase price was disclosed. As a UK private limited company with annual turnover below the £10 million threshold at which detailed profit-and-loss accounts must be filed at Companies House, OCLS is not required to publish audited financial statements. The company is believed to employ around 16 people from its facility at Roberts Road, Doncaster, South Yorkshire.
Oil Check Laboratory Services was incorporated in 2007 and has operated as an independent analytical laboratory serving industrial clients across the UK. Operating under the brand oil-analysis.org, the business provides condition monitoring services for oils, diesel fuels, coolants, AdBlue/DEF, greases, and transformer oils, using methods including ICP-AES elemental analysis, FTIR spectrometry, viscosity measurement, Karl Fischer water analysis, particle counting, and TAN/TBN testing.
The business holds ISO9001:2015 quality management certification and serves a broad range of end markets including construction plant, road haulage, mining, railway, marine, wind turbines, power generation, and data centres. Standard sample turnaround is 48 hours.
OCLS's customer base includes operators of Caterpillar, JCB, and Volvo plant equipment, as well as clients in heavy transport and energy infrastructure. Its work in transformer oil testing and data centre cooling fluid analysis represented capabilities directly relevant to Polaris's expansion ambitions in those sectors.
Polaris Laboratories was founded in 1999 in Indianapolis and operates as an independent fluid analysis company providing predictive testing and analysis of oils, fuels, coolants, and greases. The group operates seven laboratories globally and employs approximately 229 people, with estimated annual revenues of around $61.7 million.
In addition to laboratory testing, Polaris offers HORIZON®, an AI-enabled software platform that delivers condition monitoring analytics and equipment maintenance insights to customers. The company holds ISO 17025 accreditation from the American Association for Laboratory Accreditation (A2LA).
In October 2024, Polaris was acquired by Riverspan Partners, a Chicago-based private equity firm focused on growth-oriented investments in the industrials sector. Riverspan's stated mandate included accelerating Polaris's geographic expansion and developing new service capabilities, with international acquisitions identified as a primary mechanism for achieving that growth.
The acquisition of OCLS gives Polaris its first dedicated laboratory presence in the United Kingdom and provides an operational base for serving European customers. Prior to the transaction, Polaris had no laboratory infrastructure in the UK or Europe, limiting its ability to offer local turnaround times and pricing in those markets.
OCLS's established position in transformer oil testing and data centre cooling fluid analysis is directly relevant to Polaris's sector strategy. Both verticals — power grid infrastructure and hyperscale computing — represent markets where demand for fluid condition monitoring is growing, driven respectively by grid upgrade programmes and the rapid expansion of AI computing infrastructure. OCLS had been generating revenue from both sectors ahead of the acquisition.
Bryan Debshaw, Chief Executive Officer of Polaris Laboratories, said the group's priority was matching its capacity to client requirements: "Our focus is on scaling our capabilities in alignment with customer needs."
Michael Volante, the owner of OCLS, said the deal would preserve the business's local character while giving it access to a larger organisation's resources. "Joining Polaris Laboratories allows us to continue operating with the same local expertise while gaining access to broader resources," he said.
Post-Acquisition Operations
OCLS is expected to continue operating from its Doncaster facility following the change of ownership. Polaris has indicated that existing customer relationships and service levels will be maintained, with further investment in capabilities planned over time.
The acquisition brings Polaris's global laboratory network to eight sites. With a UK operation now established, the group is positioned to pursue further European expansion, consistent with the international growth mandate set by Riverspan Partners at the time of its 2024 investment.
The deal price was not disclosed, which is standard practice for transactions involving small UK private companies. The most recently filed accounts for OCLS cover the period to 31 December 2024; given the company's sub-£10 million turnover, no profit or EBITDA data for the target has been published at Companies House.
At the acquirer level, the Riverspan investment in Polaris in October 2024 was reportedly structured at approximately 15 times EBITDA - a multiple consistent with specialist industrial services businesses in the current private equity market. That transaction positioned Polaris with the capital and strategic mandate required to pursue bolt-on acquisitions of OCLS's type.
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