Pioneering Biodiesel Producer Argent Energy Sold

Pioneering biodiesel producer Argent Energy sold

23 July 2013

Argent Energy, a leader of large-scale industrial production of biodiesel in the UK, has actually been purchased by a green investment company.

Argent, based near Motherwell, was offered to a subsidiary of London-based John Swire & Sons for an undisclosed sum.

Argent makes green road fuel by recycling wastes and residues such as used cooking oil and tallow from the meat industry.

The firm will remain in personal ownership and will continue to run independently.

Its senior management, consisting of chairman Andy Hunter, managing director Jim Walker and financial director Jim Boyd are to remain with the company.

Souter Investments, the private investment firm of transport tycoon Sir Brian Souter, verified it had actually sold its 37% stake in Argent.

‘Future potential’

Mr Walker stated the investment by John Swire highlighted Argent’s strong market position, including there was now an opportunity “to take Argent’s abilities additional afield”.

Barnaby Swire, of John Swire, said his business was to “checking out and investing in innovative and feasible green markets”.

He included: “We are delighted to be obtaining Argent Energy, a company which we think can grow and succeed not only within the UK however also overseas, in specific in Asian markets with which Swire Group companies are familiar.

“John Swire & Sons Ltd sees in Argent Energy’s staff members a mix of attributes and values that work with our own, and look forward to dealing with them to maximise Argent Energy’s future potential.”

Argent was established in 2001. In 2009 it was bought by a consortium that included senior management along with Souter Investments.

Its plant at Newarthill, near Motherwell, has the capability to produce as much as 50 million litres of biodiesel a year.

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4 November 2011

Argent Energy

Souter Investments