© Supplied by Mearns & Gill Aberdeenshire oilfield chemical supplier Roemex has completed a management buyout.
Three long-serving executives, George Dickson, Peter Wilkie and Alex Buchan, have now taken over the Portlethen-based company for an undisclosed sum.
It comes as Roemex, which has a turnover of £14.5 million and 40 employees, celebrates 41 years in business.
The company supplies speciality chemicals and support services across the global energy sector, including within oil and gas, geothermal and renewable energy.
Founder Richard Simcox said he believed the time was right to pass on the business to “ensure continuity, stability, and a bright future”.
Roemex will ‘continue to thrive’
Richard, who will now step down as managing director, said: “Building this business over 40 years has been the privilege of a lifetime, and I’m really proud of what we’ve achieved.
“Handing it over to the team who have helped shape its success ensures continuity, stability, and a bright future.
© Supplied by Mearns & Gill“I have every confidence that under their leadership, the company will continue to thrive and wish them nothing but success as they take the company forward.”
With headquarters in Badentoy Industrial Estate and satellite offices in the UAE and the Netherlands, the company has experienced substantial growth in recent years, with its workforce expanding from 25 to 40 employees.
From July 2021, annual turnover has surged by 133%, rising from £6m to £14m.
Strengthening foundations
Under the terms of the management buyout, George becomes chief executive, Peter managing director, and Alex director of drilling and completions – will take the helm,
George said: “In my role as CEO of Roemex, I acknowledge that taking ownership of our long-dedicated business is a significant milestone.
“The management buyout allows us to strengthen our foundation while fostering innovation and growth for our team and customers.
“As Richard prepares to retire, I reflect on our emotional journey together since 1991, filled with challenges and triumphs.
“My respect and gratitude for Richard’s unwavering support and leadership are immense, and I cherish the partnership we’ve built over the years.”
