Hydrodec Group plc acquires OSS Group

OSS Group, the UK’s largest collector of waste oil and workshop waste, has been purchased by Hydrodec Group plc.

The trading business name will continue as OSS Group however the ownership will be under Hydrodec (UK) Limited.

As a wholly owned subsidiary of Hydrodec Group plc, OSS Group will continue to operate as at present and according to Managing Director Iain Lees, “it’s very much business as usual and a very positive move for OSS Group, our customers, suppliers and staff.”

It is the intention of Hydrodec that OSS Group will continue to provide the same products and services as they do now. Virtually all staff, locations, plant, transport fleet and processing facilities have been retained as part of the acquisition.

The entire senior management team have transferred to the new business and the Company shall continue to collect its customers’ waste oil, workshop waste, supply parts cleaning equipment, industrial services and other total waste management services as they do now and maintain production and sales of our processed fuel oil.

Hydrodec Group plc is a UK-listed international business with operations in the United States of America and Australia, primarily specialising in the re-refining of used transformer oils into renewable oil using their unique and patented clean-technology.

The Company plan to invest further in its new UK subsidiary which will mean an increased range of products and services that will assist in driving the business forward.

Commenting on the acquisition, Ian Smale, Chief Executive of Hydrodec, said: “OSS Group offers a very exciting new market entry that delivers the key elements of Hydrodec’s business development strategy − they have a strong position in the used oil value chain, a profitable platform for growth with genuine business optionality, and the capability to accelerate deployment of our existing transformer oil technology as well as assist in our technology development.

“We believe that Hydrodec’s technology together with the OSS Group’s operating platform can offer a transformational solution to a UK environmental problem with the potential to extend into other attractive European markets.

“We believe we can integrate OSS Group swiftly and in a way that makes the transaction accretive to Hydrodec’s earnings by 2014, a key component of this is the high quality management and staff that will join the Hydrodec team.”