LUCY Croucher, managing director of Harrogate chemical industry consultancy JSC, has staged a successful management buy out (MBO) from its US parent company.
The business, operated by 20 staff in Windsor Court, near Harrogate's Valley Gardens, advises and helps agrochemical and other companies to obtain registrations for their compounds in Europe. It works with some of the world's largest chemicals manufacturers as well as government agencies throughout the continent.
But it was outside the core power technology business of parent company, the Shaw Group, based in Houston, and with the help of Bentley Jennison Corporate Finance, of Harrogate, Mrs Croucher made her move.
With debt finance from the Bank of Scotland, Mrs Croucher acquired the equity of JSC for an undisclosed sum and is set to capitalise on the introduction of new strict chemicals legislation and an international market which is worth billions of pounds annually.
She said: "JSC has always been highly profitable and successful, but had no synergies with its US parent. The MBO gives us the freedom to develop our own business strategies and respond more quickly to the constantly-changing EU regulatory requirements."
Updated: 11:33 Thursday, October 28, 2004
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