United Kingdom

Details

  • Type: Press release
  • Date: 06/09/2013

KPMG sells OSS Group Ltd to Hydrodec Group plc via ‘pre pack administration’ 

The business and assets of OSS Group Limited, the Knowsley-based collector, consolidator and processor of used lubricant oil and seller of processed fuel oil, have been sold to Hydrodec Group plc in a deal which was undertaken by a team from KPMG’s Restructuring and Corporate Finance practices in Manchester.

 

Brian Green and Paul Flint of KPMG’s North West Restructuring team were today appointed Joint Administrators of OSS Group Limited, along with a number of its subsidiary companies. The company’s head office is based in Knowsley, but it also trades from 11 other sites throughout the UK.

Following a period of marketing in the weeks prior to appointment, KPMG was able to secure an immediate sale of the business and its assets to Hydrodec Group, the cleantech industrial oil re-refining group.

 

The sale has successfully secured the ongoing employment of 185 employees, who have transferred across to Hydrodec. 

 

Paul Flint, Restructuring Associate Partner at KPMG, said: “We have achieved an excellent outcome for creditors, employees and other stakeholders following an intense period of marketing the business which, together with our sector knowledge and experience, ensured a highly competitive process.”

 

Jonathan Boyers, Corporate Finance Partner for KPMG, added: “During the marketing process, it soon became apparent that the combination of Hydrodec’s technology and OSS’s access to used oil made them an excellent strategic fit. We’re particularly delighted that this deal will safeguard 185 jobs in the Knowsley area.”


ENDS


 

For press queries, please contact:


Katy Broomhead, KPMG Corporate Communications Tel: 0161 246 4623 / 07824 537963
Email: katy.broomhead@kpmg.co.uk


Or

Alison Anderson, KPMG Corporate Communications Tel: 0113 254 2980 Email: alison.anderson@kpmg.co.uk

 

 

About KPMG


KPMG LLP, a UK limited liability partnership, is a subsidiary of KPMG Europe LLP and operates from 22 offices across the UK with over 12,000 partners and staff.  The UK firm recorded a turnover of £1.8 billion in the year ended September 2012. KPMG is a global network of professional firms providing Audit, Tax, and Advisory services. We operate in 156 countries and have 152,000 professionals working in member firms around the world. The independent member firms of the KPMG network are affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity.  KPMG International provides no client services.

 

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