Osmose is set to for additional investment following is takeover by a US-based global investment management firm.
The wood preservatives manufacturer’s European division has also struck a deal with France-based Guard Industry to supply the latter’s WoodGuard products into the timber manufacturing sector.
Oaktree Capital Management’s buyout of the 78-year-old private company for an undisclosed sum is the second takeover of a major specialist timber treatment manufacturer in less than a year (the other being Lonza’s purchase of Arch).
Osmose executives in Europe said it was business as usual with the Osmose name remaining.
“We are excited about the addition of funds that Oaktree will provide,” said Andy Hodge, Osmose European marketing director.
“This will allow us to grow and enhance our position as a leading supplier of wood preservative technology around the world.”
Oaktree has investments in utilities, rail services and speciality chemicals.
“Oaktree can provide substantial additional resources and is committed to investing in Osmose to help us expand our product and service offerings,” said Osmose CEO James Spengler.
Meanwhile, Osmose Europe’s deal with Guard Industry will see Osmose supplying the WoodGuard clear and coloured wood finishes to industrial joineries, sawmills and other timber manufacturing companies.
Gordon Ewbank, Osmose commercial director, said the company had been diversifying in recent years.
“The partnership between Osmose & Guard Industry is a further step along this road, allowing Osmose to offer the UK market high quality, innovative industrial wood finishes to complement our existing preservative, fire retardant and wood stabiliser ranges,” he said.
Guard Industry said the agrement was in tune with its long-term strategy to to develop long-term partnerships with experienced companies in the retail, concrete, stone and timber industries.
