Calendar An icon of a desk calendar. Cancel An icon of a circle with a diagonal line across. Caret An icon of a block arrow pointing to the right. Email An icon of a paper envelope. Facebook An icon of the Facebook "f" mark. Google An icon of the Google "G" mark. Linked In An icon of the Linked In "in" mark. Logout An icon representing logout. Profile An icon that resembles human head and shoulders. Telephone An icon of a traditional telephone receiver. Tick An icon of a tick mark. Is Public An icon of a human eye and eyelashes. Is Not Public An icon of a human eye and eyelashes with a diagonal line through it. Pause Icon A two-lined pause icon for stopping interactions. Quote Mark A opening quote mark. Quote Mark A closing quote mark. Arrow An icon of an arrow. Folder An icon of a paper folder. Breaking An icon of an exclamation mark on a circular background. Camera An icon of a digital camera. Caret An icon of a caret arrow. Clock An icon of a clock face. Close An icon of the an X shape. Close Icon An icon used to represent where to interact to collapse or dismiss a component Comment An icon of a speech bubble. Comments An icon of a speech bubble, denoting user comments. Ellipsis An icon of 3 horizontal dots. Envelope An icon of a paper envelope. Facebook An icon of a facebook f logo. Camera An icon of a digital camera. Home An icon of a house. Instagram An icon of the Instagram logo. LinkedIn An icon of the LinkedIn logo. Magnifying Glass An icon of a magnifying glass. Search Icon A magnifying glass icon that is used to represent the function of searching. Menu An icon of 3 horizontal lines. Hamburger Menu Icon An icon used to represent a collapsed menu. Next An icon of an arrow pointing to the right. Notice An explanation mark centred inside a circle. Previous An icon of an arrow pointing to the left. Rating An icon of a star. Tag An icon of a tag. Twitter An icon of the Twitter logo. Video Camera An icon of a video camera shape. Speech Bubble Icon A icon displaying a speech bubble WhatsApp An icon of the WhatsApp logo. Information An icon of an information logo. Plus A mathematical 'plus' symbol. Duration An icon indicating Time. Success Tick An icon of a green tick. Success Tick Timeout An icon of a greyed out success tick. Loading Spinner An icon of a loading spinner.

Aberdeenshire firm Aubin now under Italian ownership

The sale of Ellon-based Aubin marks an exit for BGF.
The sale of Ellon-based Aubin marks an exit for BGF.

North-east energy services firm Aubin Group is now under Italian ownership following a sale by its previous shareholders.

Italmatch Chemicals, based in Genova (Genoa) in northwest Italy’s Liguria region, swooped to buy the Ellon business for an undisclosed sum from shareholders including founder Paddy Collins and banking industry-backed investor BGF.

Queen’s Award-winning Aubin is internationally recognised as a key developer and supplier of chemical solutions for the energy industry, with a long-term focus on research and development (R&D).

The company’s last published accounts show pre-tax losses and turnover of £1.2 million and £4.5m respectively in the year to June 30 2021.

A total headcount of about 20 employees will join Italmatch’s international oil and gas business unit following the takeover.

New chief executive

The division is led by sales and marketing director Scott Miller, who will take over as Aubin’s chief executive, replacing Katy Gifford, from July 1.

Mr Collins is Aubin’s chief technology officer and was the firm’s majority shareholder.

The new owner recognised the value in technology and expertise within the business and was committed to further investment in R&D, Mr Collins said, adding: “All our discussions with Italmatch demonstrate their commitment both to excellence and also to growing their sustainable solutions.

“I am confident it will be a good home for the business.”

Aubin was launched in 1987 and given a major boost in 2013, when it received a £2.25m investment from BGF (then the Business Growth Fund).

The deal marked BGF’s fourth investment in Scotland and only its third in the oil and gas industry.

It has now exited the investment in full, selling its 33% stake in Aubin as part of the deal that saw Italmatch acquiring 100% of the Aberdeenshire firm.

Aubin’s base in Ellon.

BGF investor Richard Pugh said: “BGF has been a long-term investor in Aubin, helping build the foundations of the business and develop a wide range of new products that can both reduce costs and have lower environmental impact.

“More recently, the new technology focus has been on the energy transition – spanning from novel approaches to plugging and abandoning wells which will reduce costs and emissions dramatically, and also ways to improve the installation of offshore wind foundations.

“After nine positive years of collaboration, this new investment marked an appropriate moment for BGF to exit and we are sure Aubin will continue to be successful.”

Richard Pugh, investor, BGF.

Italmatch chief executive Sergio Iorio said the acquisition of Aubin was another step in the Italian company’s growth strategy in areas of interest such as the Middle East, as well as “our journey of sustainability”.

Mr Iorio added: “Our company has always invested in the continuous transformation of its product portfolio, with increasing focus dedicated to sustainable and circular solutions in all the end markets it caters to, including oil and gas.

“Thanks to its sustainable solutions, Aubin likewise embodies excellence in the renewable energy market. This synergy will further boost our R&D efforts as a group.”

Italmatch boasts revenue of £600m

Founded in the late 1990s, Italmatch specialises in flame retardants and performance additives for the water treatment and oil and gas industries, as well as for lubricants and plastics.

The group employs more than 1,100 workers and generates around £600m in revenue annually.

It operates 19 manufacturing plants in Europe, the Middle East, Asia Pacific and North America, and also owns subsidiaries in Brazil, Belgium, Poland, Singapore and Japan.

Already a subscriber? Sign in





Please enter the name you would like to appear on your comments. (It doesn’t have to be your real name - but nothing rude please, we are a polite bunch!) Use a combination of eight or more characters that includes an upper and lower case character, and a number.

By registering with [[site_name]] you agree to our Terms and Conditions and our Privacy Policy

Or sign up with

Facebook Google



Or login with

Forgotten your password? Reset it