Benchmark International Advises on the Deal Between Rocara and OQEMA
Rocara, with operations in Belfast and Dublin, provides a wide range of general and speciality chemicals, solvents and surfactants. Since its foundation in 2006 the group of companies has been a driving force in the chemical distribution and manufacturing market in the Republic of Ireland and Northern Ireland, representing global manufacturers.
With headquarters in Mönchengladbach, Germany, and a base in Oxfordshire, OQEMA is a global chemical manufacturing and distribution company. It is one of the five largest chemical distributors in Germany and one of the top ten in Europe with almost 1,100 employees currently working for OQEMA at 40 locations in 20 countries.
This is a major strategic acquisition for the companies, providing an opportunity for customers across both businesses to benefit from existing supplier relationships and giving OQEMA a significant footprint in Northern Ireland and the Republic of Ireland, completing its portfolio of UK companies to drive growth in Europe.
Rob Moss, managing director of OQEMA Ltd in the UK, said: "We are very pleased to be welcoming the Rocara companies into the OQEMA group. This acquisition supports our business is so many ways. The surfactants help consolidate our personal and home care business whilst the solvents are a natural extension of our existing business. On top of this, we now have a strategic foothold on the island of Ireland for the progression of the OQEMA business."
Rocara will initially continue to operate under its existing brand, with both founders of Rocara, Karl Carpenter and Jonathan Morrow, remaining with the company to help consolidate the acquisition and grow the business.
They commented: "We are both delighted with the sale of our group of companies to OQEMA which opens up wonderful opportunities for both our suppliers and customers and future proofs our company within the OQEMA group. We would like to thank our advisers, Benchmark International, accountants Garland McDonald & Co and RSM Northern Ireland, and our business lawyers Flynn O' Driscoll and Paul McEvoy of McEvoy Sheridan."
Jonathon Parkinson, Director at Benchmark International, added: "It has been a pleasure working with the shareholders of Rocara on the sale. In OQEMA, we have found a buyer that is strongly aligned commercially and culturally and, importantly, recognises the opportunities available for the businesses. We look forward to seeing Rocara flourish in the coming years under new ownership."
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