Haynes Publishing Group has acquired OATS Limited for £2.4 million. OATS is a niche technology business that provides information and productivity solutions for the lubricants sector of the oil industry.
Haynes is paying £1.85 million payable in cash on completion plus an additional £0.55 million payable within 18 months of completion.
For its financial year ended 30 June 2016, the reportable pre-tax loss of the OATS Group was £0.1 million on revenue of £2.2 million. As at 30 June 2016, the OATS Group had gross assets of £3.3 million.
Formed in 1983, OATS is a Swindon based company with 35 employees that has been servicing the world’s major lubricants businesses under the ownership of Sebastian Crawshaw for the past 20 years.
OATS has developed a comprehensive equipment and lubricants database that supports customers from across the lubricants marketing and supply chain, ranging from original equipment manufacturers, oil companies and lubricant distributors to end-users such as workshops, motor parts resellers and garages.
J Haynes, CEO of Haynes said: “We look forward to welcoming the OATS team to the Haynes Group. I am delighted that Sebastian will remain involved in a consultancy capacity to facilitate a smooth transition. The OATS global lubricants database will enhance HaynesPro’s digital data solutions to the professional market. At the same time, we will leverage our European commercial network to drive new business for OATS. The acquisition will accelerate management’s drive to grow the HaynesPro business, increasing Group revenue and profit.”
UK, Yeovil, Somerset & Swindon, Wiltshire
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