Senior management of Vikoma International Limited have completed a management buyout with the support of a financial investment from Agathos, the London-based investment firm.
Based on the Isle of Wight and founded by BP in 1967 after a major oil spill, Vikoma International is a world leader in the design and manufacture of oil and chemical pollution control systems.
The Agathos team will provide financial, strategic and operational support to the Vikoma management team which is comprised of: Karen Lucas MD, Sales Director Paul Rayner, Operations Director Mark Wheeler, Engineering Director Neil Plater, Finance Manager Martin Hammond and Quality and Technical Manager Gary Barnes.
The Vikoma management team have 90 years of collective industry experience and will be led by Managing Director Karen Lucas and incoming Chairman Paul Herbert who was previously MD of Vikoma between 2005 - 2006.
Karen Lucas, MD said: “This deal marks a new beginning for our business. This will enable us to create a solid platform from which to grow and develop our business continuing the innovation, reliability and quality of service for which our brand has been known for over the last 40 years.”
Chairman Paul Herbert said: “The new investment brought to the business by Agathos, together with their experience in working with businesses to deliver long-term business growth will enable us to drive forward in a rapidly changing global market.”
William de Laszlo, Agathos Founding Partner, said: “We are pleased to have the opportunity to back Vikoma, with its proud history of quality and innovation and supplying an industry for over 40 years. The loyalty of employees and strength of the management team is the reason why we at Agathos are getting behind the business and its future.”
Andrew Turner, The Island’s MP “It is fantastic to hear the recent news of the Vikoma Management Buyout, led by Karen Lucas and her Team; they are right to be confident in investing in their future… Vikoma is a great company. I am pleased that they have attracted new funds to support the business from a Family-backed office, Agathos Management LLP. Agathos are long-term investors, known for building businesses at the cutting edge of innovation and supporting growth over a period of time. This investment is securing 58 jobs and many island-community businesses that are dependent on Vikoma. Like Agathos, I hope that we can all get behind and support the Management in backing this key business.”
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