Oleo International

Oleo International has been bought as a going concern by Brigam Ltd of Wolverhampton. The deal also includes its sister companies Oleo Buffers Shanghai Co Ltd (China) and Oleo Incorporated (USA). Zolfo Cooper, working as administrators for Oleo's previous parent company Wagon PLC, brokered the agreement with Brigam Ltd.

Sul Sahota, chairman at Brigam Ltd, comments: "We have been interested in acquiring Oleo for many years and I am now really looking forward to working with the management team at Oleo to ensure a smooth transition out of administration and to take the business forward, developing a strong long-term business."

Allan Binstead, managing director at Oleo International, is delighted with the Brigam deal. He says: "We recognise that a number of suppliers may have suffered as a result of Wagon PLC going into administration but would like to thank those who have supported Oleo through the administration process. Oleo is a strong business due to its diverse product and geographical markets. We have a full order book going forward and Brigam share the same specialist engineering values as Oleo. We both aim to continue providing our customers with high-quality, safety critical products."