Aztec Oils has completed several acquisitions the past few years and now is trying to continue growing with a 1.2 million (U.S. $1.6 million) development project to increase storage capacity at its main Bolsover site in central England.
The project features a new 10,000 square foot warehouse that will increase storage capacity for its Aztec-branded lubricants to more than 400,000 liters.
Aztec was established in 1995 and initially operated from a shed on its Bolsover site. The growing company has made several acquisitions in recent years, including Midlands-based Oiline Ltd. in 2010, Northern Oils in Scotland in 2016 and Netherlands-based Oil Water Treatment Services BV this year.
The company recently secured a 250,000 pound loan to support its growth from NPIF-Mercia Debt Finance, which is managed by Mercia Fund Managers and is part of the Northern Powerhouse Invesment Fund. NPIF, which provides business loans to micro, small and medium-sized enterprises that demonstrate growth potential, said in a news release that Azec had been successful in developing new export markets, with recent sales to countries including Pakistan, Iraq, Ghana and Ukraine. The company has previously outlined plans to pursue new export markets and develop numerous specialty product lines.
This funding package will allow it to complete the expansion of its Bolsover site so it can offer an even better service to its clients, Peter Sorsby, investment manager with Mercia Fund Managers, said in a press release.
CEO Mark Lord said the new facilities will allow Aztec to stock a huge range of products and process orders in less than two days.
In planning for the new extension, we really listened to our customers, Aztec Sales Director Derek Watkins said in an Aztec news release. Over the last few years we have recognized real need for a service that delivers lubricants and lubrication products in a timely manner, especially for customers requiring smaller quantities.
The company serves several market sectors: agricultural, automotive, food oils, industrial, biodegradable and metalworking. In addition to its own brands, Aztec distributes Bel-Ray and Petro-Canada products.
Aztec previously announced it would cease manufacturing at its Tipton, West Midlands, site by early 2019, although the site will continue to operate as a distribution center. Remaining production will move to the Bolsover site. Goldcrest Oil Ltd (Midlands) will be its authorized distributor for the West Midlands, operating out of the Tipton plant since early April.
Northern Oils, Aztecs acquisition in 2016, has 17 employees and was the lubricant division of Impact Trading Ltd. The change in ownership resulted in Northern Oils becoming the Scottish trading division of Aztec Oils, which served as the primary manufacturer for Northern Oils Goldline lubricant product line. A new company, Northern Oils Scotland Ltd., was formed and trades as Northern Oils.
The acquired OWT Services is a global oil field chemical service company that supplies chemicals to oil and gas producers, related traders in the oil and gas industry, oil recycling industries and industries that deal with emulsion problems, such as those operating their own waste water plants.