January 4, 2017
Volume 17 Issue 52
Oats Acquired by HaynesPro
Haynes Publishing Group, known best for its owner’s workshop manuals, recently acquired Oats Ltd., a technology business that provides lubricant information and recommendations to equipment operators.
The acquisition totaled at £2.4 million (US $2.93 million), with £1.8 million payable in cash upon completion and an additional £550,000 in assumed liabilities.
Oats, which stands for oil advisory technical services, was founded in 1983, and sold 10 years later to Sebastian Crawshaw, who has managed the company and extended the business into the global market. In itsmost recent fiscal year, which ended in June, Oats reported a pre-tax loss of £10,000 on revenue of £2.2 million, with gross assets of £3.3 million.
HaynesPro said this acquisition will allow it to provide their customers with extensive information on lubricants and will strengthen its relationships with parts distributors and oil companies.
“The Oats global lubricants database will enhance HaynesPro’s digital data solutions to the professional market. At the same time, we will leverage our European commercial network to drive new business for Oata. The acquisition will accelerate management’s drive to grow the HaynesPro business, increasing group revenue and profit,” said J. Haynes, chief executive of HaynesPro.
Crawshaw said HaynesPro should help Oats expand internationally and will be a positive move for customers and staff. HaynesPro Managing Director Peter van der Galiën told Lube Report that customers and employees alike can expect Oats to continue with business as usual.
Oats’ primary product is EARL, which stands for equipment and recommended lubricants, a database that provides information about various makes of equipment –passenger and commercial vehicles, agricultural equipment, construction and off-highway machinery and additional industrial applications – and lubricants recommended or approved to be used in them. Oats’ website claims that EARL – which provides information in 25 languages– is the most comprehensive database of its kind.
A few companies in the niche information and technology market offer similar databases, including Machinery Lubrication and Get Lubricants.
Galiën will take over the day-to-day operations at Oats, with Crawshaw consulting during a transition period. Crawshaw told Lube Report he will continue his trade association work but will otherwise be fully retired.