Specialist independent chemicals manufacturer Lakeland Laboratories has completed a management buyout and appointed a new board of directors, as the business celebrates its 60th anniversary.
The MBO involved the exit of three major shareholders and marks the start of an exciting step forward for the global chemicals supplier, which provides a range of speciality products to sectors including automotive, agrochem, industrial cleaning and oilfield.
The Board of Manchester-based Lakeland was advised on the MBO by Hill Dickinson’s Liverpool Corporate team, comprising partners Elan Iorwerth and Matt Noon, and associate Georgina Anwyl.
Commenting on the deal, Elan Iorwerth said:
“We were delighted to advise Lakeland managing director Paul McCormack and his newly appointed board on this MBO. Lakeland Laboratories has built an enviable reputation in its 60 years of trading and will use this turning point to expand the business. We wish the board and the management team every success.”
Lakeland Laboratories’ managing director Paul McCormack said:
“This exciting new era for Lakeland, starting as the company celebrates its 60th anniversary, allows us to drive Lakeland forward with new ideas which are backed by our board’s significant experience in the chemicals industry.”
He added: “We’re looking forward to growing Lakeland, to working closely with our customers, distributors and suppliers, and continuing our contribution to Greater Manchester’s manufacturing and export success.”
Lakeland Laboratories has grown successfully over 60 years, distributing speciality chemicals both within the UK and globally in over 27 countries. The MBO gives the new Board opportunity and resource to expand Lakeland’s international export business, and to grow the company’s talent and services at its Greater Manchester plant.
