Surfachem uses right formula for multi-million pound sale
Tuesday 2nd October 2007
Leeds-based Surfachem Group – the UK’s leading distributor of surfactants – has been sold in a multi-million pound deal to the holding company of Banner Chemicals Group, a major chemical distributor and supplier located in Runcorn, Cheshire.
The sale was negotiated with holding company 2M Holdings on behalf of Surfachem’s owner and founder, Utrick Alexander, by corporate partner Peter Barton and associate solicitor Richard Hunt of Leeds and Bradford-based law firm Gordons.
Utrick founded Surfachem 26 years ago and developed the business to such an extent that its surfactant products are exported throughout the world. He will remain involved with the business and support the Surfachem management team for the next 12 months.
Commenting on the sale, Utrick said: “Surfachem will continue to develop its offer in new and existing markets. We have a strong and highly capable management team at the company that are hugely excited by the prospect of taking the business forward.
“When selling Surfachem it was important for me to know that it would have a sustainable future. This deal with 2M Holdings has secured that outcome and throughout what was a complicated transaction I received excellent, straightforward advice from Gordons. There is no doubt that my legal team’s counsel helped ensure the sale was concluded efficiently and effectively.”
Peter said: “Surfachem is a company with an exciting future and we are very happy to have played our part in securing its sale. Throughout the process we worked hard to ensure that we kept the deal’s momentum going despite having to tackle complicated aspects of the transaction. We look forward to seeing Surfachem continue to thrive under its new ownership.”