Penningtons Manches LLP advises on the sale of technology business OATS Limited (OATS) to Haynes Publishing Group PLC (Haynes)
Haynes acquired OATS, a niche technology business that provides information and productivity solutions for the lubricants sector of the oil industry. Formed in 1983, OATS is a Swindon based company with 35 employees that has been servicing the world's major lubricants businesses under the ownership of Sebastian Crawshaw for the past 20 years.
OATS has developed a world leading comprehensive equipment and lubricants database that supports customers from across the lubricants marketing and supply chain, ranging from original equipment manufacturers, oil companies and lubricant distributors to end-users such as workshops, motor parts resellers and garages. OATS' customers have access to an unrivalled source of information about lubricants that enables them to recommend the most appropriate oil to their end users.
Oxford corporate partner Will Axtell led the Penningtons Manches team assisted principally by corporate associate Attilio Leccisotti. Commenting on the deal, Will Axtell said: “It has been a real pleasure working on this transaction with Sebastian. This technology-sector deal was successfully completed in an ambitious timeframe. I am sure OATS will be a real asset to the Haynes' stable and will continue to go from strength to strength."
Sebastian Crawshaw, chairman of OATS, commented: "I am very proud of what OATS has been able to achieve as a team over the last 20 years. From a personal perspective, it is very satisfying to pass on the baton to an iconic British brand such as Haynes. I enjoyed working with Will, Attilio and the team in Oxford on this important transaction. The legal teams co-operated effectively and smoothly to meet the targeted completion date with the minimum of fuss. Access to the key personnel was excellent. It was also helpful having access to the corporate tax team and other specialist advice in-house. The effective co-ordination with Shaw Gibbs enabled us to iron out the inevitable challenges quickly and calmly."