Mon, 04 Mar 2013 | BUSINESS SALE
The Gleaner Oils business, based in Elgin in Scotland, is reportedly close to finding a buyer.
The business was put on the market back in May of 2012 after shareholders, Mary Jane Scott, David Todd, Brian Young and Billy Laing, planned out their retirement.
Now, Mr Laing has confirmed to the Scottish Herald that there has been some “serious interest” in the business from potential buyers.
He stated that he is unable to reveal the identity of the probable buyers but noted that a sale should be announced soon, although care will be taken to ensure the company ends up in the right hands.
Mr Laing told the paper: “We do have serious interest [in the business] at the moment and this is being considered. But a major consideration, really, is that we want to look after the company and look after the staff. There is not a big rush.”
Gleaner Oils owns petrol forecourts and distributes fuels, greases and lubricants, and offers boiler maintenance services to oil and gas systems. It owns what is thought to be Scotland's most northerly 24-hour filling station at Skiach Services in Rosshire.
The business is preparing its 2012 financial figures, which are thought to show a rise in turnover and profits. Mr Laing told the Herald that the preliminary figures for the year show an increase in turnover from £122 million in 2011 to £126.5 million in 2012.
Meanwhile, Companies House' records show that Gleaner Oils had pre-tax profits of £214,891 in 2011, with the 2012 profits expected to demonstrate growth on this figure due to the slightly colder weather and the news that the company's distribution network has been extended into central Scotland through the opening of its Cowdenbeath tanker in Fife, which takes oil from the Grangemouth refinery.
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