Nabarro has advised AIM-listed Hydrodec Group plc, on the disposal of its UK waste oil collections business and proposed UK lubricant re-refining project.

Following a strategic review of the business and auction process for the UK operations, a number of indicative offers were received. After a period of exclusivity with one bidder, Hydrodec elected to conclude the sale with one of its non-executive directors in a related party transaction under the AIM Rules.

The disposal allows Hydrodec to concentrate on its business and market leading transformer oil technology, and to look to strengthen its footprint in the US and international transformer oil market.

The Nabarro team was led by Corporate partner Alasdair Steele, who was assisted by associate Caroline Walker and Tax partner Nick Burt, associate Andrew Brooker and Real Estate senior associate Chris Annable. Genus Law advised the purchaser.

Commenting on the transaction, Corporate partner Alasdair Steele said:

"Although the global decrease in oil prices has affected businesses across the sector, we are seeing green technology companies such as Hydrodec's re-refining plants continue to develop.  This successful disposal allows Hydrodec to renew its focus on successfully operating oil re-refineries across locations in Ohio in the US and New South Wales in Australia."