Tetrosyl, the largest manufacturer and supplier of car care products in Europe and the UK’s biggest independent oil blender, has acquired James Briggs, one of the region’s oldest and largest consumer chemicals businesses for an undisclosed sum.
Bosses said the acquisition between Rochdale-based Tetrosyl, which owns brand including T-Cut and Carlube, and James Briggs, a £50m turnover consumer chemicals manufacturer, which employs around 300 people at two sites in Oldham, will ensure the longevity of the business.
The deal also sees private equity investor Endless, which acquired James Briggs in 2013, exit their investment after the conclusion of a successful turnaround of the company, which is led by CEO Paul Blackaby.
Peter Schofield, Tetrosyl Group Chairman, said: “We are delighted to welcome the James Briggs business and the James Briggs team to the Tetrosyl family and are sure the combined business will have great success in the future.
“Tetrosyl leads the way in brand management with a combination of innovation, technology and design and James Briggs has many years of manufacturing experience and expertise. The strategic fit is exceptional.”
Blackaby added: “I am delighted James Briggs will be joining the Tetrosyl Group.
“The business is in excellent condition, has real momentum and Tetrosyl’s ownership will ensure the longevity of the business for our customers and suppliers, whilst the combination will create opportunity for our talented and valued employees.
“I would like to thank Endless, who are now exiting their investment, but have been hugely supportive of the business over the last few years”.
Tom Jack, partner in the Manchester office of private equity investor Endless, said: “We hope that joining forces with a business such as Tetrosyl is an exciting outcome for the loyal workforce at James Briggs.
“We would like to thank all the James Briggs team for their hard work and absolute dedication to quality, safety and customer care, and we wish them and Tetrosyl the very best of success as this historic business continues to go from strength to strength in the future.”
The combined group will have a turnover of more than £150m.
James Briggs and Endless were advised by Giles Chesher and Matt Canipa at law firm Squire Patton Boggs.
