Wed, 22 Oct 2014 | DIVISION SALE
Hydraulic and storage fluid supplier to the oil and gas sector, Greater Manchester-based Niche Products has been sold to a US firm.
Niche Products has been supplying water-based subsea fluids from its base on Moss Industrial Estate, Leigh since it was established in 2001. The business plus its Pelagic brand has been taken on by chemicals business MacDermid Offshore Solutions, which is part of Miami-based Platform Speciality Products Corporation.
The founders of Niche Products Tom McKechnie and Svein Odland have kept two businesses – Offshore Environmental Oils and Subsea Fluid Services. They have also retained the employees and production facility for the design, manufacture and supply of environmental oils-based fluids. They will help MacDermid to integrate the Niche brand until the end of the year to ensure a smooth change of ownership.
Commenting on the sale co-founder Mr McKechnie said: “We would like to sincerely thank all customers and suppliers for a fantastic 13 years together and we wish them continued success with the Pelagic brand via MacDermid.”
Niche Products had net assets of £971,945 for the year to 31 December 2013, a significant drop from £1.7 million the previous year.
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