Cupar-based synthesis laboratory St Andrews ChemTech International has successfully undergone a management buyout (MBO).
Founded in 1985, the company initially carried out process development for the chemical and allied industries, operating from laboratories in St Andrews. In 1996 the company moved to new laboratory and pilot-plant facilities in Cupar and expanded into the area of fine organic custom synthesis. ChemTech, which employs 16 people, uses techniques including ozonolysis, cryogenics, microwave and high vacuum fractional distillation.
MBO team leader, Dr Kate Pepper said: ‘Our plans for the future are to generate more business, both in the UK as well as abroad, to fill our newly expanded pilot plant.
‘With this in mind, we expect, over the next five years, to be able to increase our work force, thus benefiting the local area.’
RDA Scottish Enterprise helped construct a deal between the previous owners of the company and the MBO team.
Joe Noble, operations director at Scottish Enterprise Fife, said: ‘The chemicals sector is a significant contributor to the Scottish economy and a recognised key industry for Fife. We are therefore delighted to have supported St Andrews ChemTech through its management buyout and look forward to seeing the company continue to grow.’